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Equity Based Plans
 12 Months Ended
Dec. 31, 2014
Equity Based Plans [Abstract]  
Equity Based Plans
10. Equity Based Plans
 
 The Company has the following equity based plans with outstanding equity grants:
 The Amended and Restated 1999 Employee Stock Option Plan (the “Amended 1999 Plan”) permits the Company to grant to non-employee directors and employees of the Company up to 600,000 non-qualified options to purchase shares of common stock and restricted stock (subject to proportionate adjustments in the event of stock dividends, splits, and similar corporate transactions). The exercise prices of options granted under the Amended 1999 Plan are determined by the Compensation Committee. The period within which each option will be exercisable is determined by the Compensation Committee. The Amended 1999 Plan was approved by the shareholders of the Company at the 2008 Shareholders Meeting on May 20, 2008.

The Amended and Restated 2003 Stock Option Plan (the “Amended 2003 Plan”) permits the Company to grant to key employees and outside directors of the Company incentive and non-qualified options and shares of restricted stock covering up to 1,750,000 shares of common stock (subject to proportionate adjustments in the event of stock dividends, splits, and similar corporate transactions). The Amended 2003 Plan was approved by the shareholders of the Company at the 2013 Shareholders Meeting on May 14, 2013.
 
A cumulative summary of equity plans as of December 31, 2014 follows:
  
Authorized
  
Restricted
Stock Issued
  
Outstanding
Stock Options
  
Stock Options
Exercised
  
Stock Options
Exercisable
  
Shares Available
for Grant
 
Equity Plans
 
  
  
  
  
  
 
Amended 1999 Plan
  
600,000
   
377,552
   
700
   
139,091
   
700
   
82,657
 
Amended 2003 Plan
  
1,750,000
   
557,454
   
-
   
778,300
   
-
   
414,246
 
   
2,350,000
   
935,006
   
700
   
917,391
   
700
   
496,903
 
As of December 31, 2014, there were outstanding stock options to purchase 700 shares.  All options to purchase the 700 shares have an exercise price of $18.42 per share with the contractual term ending on August 23, 2015.  Based on the closing price at December 31, 2014 of $41.96 per share, these options have an intrinsic value of $16,478. During 2014, options representing 30,000 common shares were exercised. The intrinsic value of the shares exercised in 2014 was $0.6 million.
 
During 2014, 2013 and 2012, the Company granted the following shares (net of those shares cancelled in their respective grant year due to employee terminations prior to restrictions lapsing) of restricted stock to directors, officers and employees pursuant to its equity plans as follows:
 
Year Granted
 
Number of Shares
  
Weighted Average Fair Value Per Share
 
2014
  
159,443
  
$
33.29
 
2013
  
174,938
  
$
23.52
 
2012
  
80,650
  
$
21.65
 

 Generally, restrictions on the stock granted to employees lapse in equal annual installments on the following four or five anniversaries of the date of grant. For those shares granted to directors, the restrictions will lapse in equal quarterly installments during the first year after the date of grant. For those granted to executive officers, the restriction will lapse in equal quarterly installments during the four years following the date of grant.
 As of December 31, 2014, there were 279,833 shares outstanding for which restrictions had not lapsed. The restrictions will lapse in 2015 through 2018.
 Compensation expense for grants of restricted stock will be recognized based on the fair value on the date of grant. Compensation expense for restricted stock grants was $3,363,000, $2,743,000 and  $2,102,000, respectively, for 2014, 2013 and 2012. As of December 31, 2014, the remaining $6.1 million of compensation expense will be recognized from 2015 through 2018.