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Stock-based compensation (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The significant weighted average assumptions for the years ended December 31, 2015, 2014 and 2013 were as follows:

		2015			2014			2013
Risk free interest rate			0.41	%		0.48	%		0.47	%
Expected option life (years)			1.4			1.4			1.7
Expected volatility			33.74	%		48.06	%		27.87	%
Expected dividend yield			2.35	%		2.71	%		2.71	%

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of the Company’s stock option activity for the year ended December 31, 2015 is as follows:

		Options			Weighted Average Exercise Price			Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (1)
Outstanding at beginning of period			186,632		$	10.18
Granted			12,645			9.92
Exercised			(48,885)			7.90
Forfeited/expired			(55,914)			10.30
Outstanding as of December 31, 2015			94,478		$	10.52		1.06 years		$	164,500
Exercisable as of December 31, 2015			75,078		$	10.46		0.86 years		$	133,764

(1) The intrinsic value of a stock option represents the amount by which the fair value of the underlying stock, measured by reference to the closing price of the common shares of $12.24 on the Nasdaq Global Select Market on December 31, 2015, exceeds the exercise price of the option.  

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

The following table summarizes the weighted average fair value of options at the date of grant and the intrinsic value of options exercised during the years ended December 31, 2015, 2014 and 2013:

		2015			2014			2013
Options granted with an exercise price below market price on the date of grant:
Employees — preferred stock		$	4.19		$	-		$	4.65
Overall weighted average		$	4.19		$	-		$	4.65
Options granted with an exercise price at market price on the date of grant:
Management employees		$	-		$	-		$	-
Employees — common stock		$	3.39		$	3.11		$	3.18
Overall weighted average		$	3.39		$	3.11		$	3.18
Options granted with an exercise price above market price on the date of grant:
Management employees		$	-		$	-		$	-
Employees — preferred stock		$	-		$	0.59		$	-
Overall weighted average		$	-		$	0.59		$	-
Total intrinsic value of options exercised		$	87,371		$	17,162		$	190,212

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- References

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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

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- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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