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Stock-Based Compensation Plans | 12 Months Ended
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Dec. 31, 2014
Stock-Based Compensation Plans [Abstract] |
Stock-Based Compensation Plans | Note 14: Stock-Based Compensation Plans: On October 3, 2000, the shareholders of the Company approved the Bar Harbor Bankshares and Subsidiaries Incentive Stock Option Plan of 2000 (ISOP) for its officers and employees, which provided for the issuance of up to 450,000 shares of common stock. The purchase price of the stock covered by each option must be at least 100% of the trading value on the date such option was granted. Vesting terms ranged from three to seven years. According to the ISOP no option shall be granted after October 3, 2010, ten years after the effective date of the ISOP. In May, 2009, the shareholders of the Company approved the adoption of the 2009 Bar Harbor Bankshares and Subsidiaries Equity Incentive Plan (the 2009 Plan) for employees and directors of the Company and its subsidiaries. Subject to adjustment for stock splits, stock dividends, and similar events, the total number of shares of common stock that can be issued under the 2009 Plan over the 10 year period in which the plan will be in place is 262,500 shares of common stock, provided that no more than 112,500 shares of such stock can be awarded in the form of restricted stock or restricted stock units, as further described in the 2009 Plan. The 2009 Plan is to be administered by the Companys Compensation Committee. All employees and directors of the Company and it subsidiaries are eligible to participate in the 2009 Plan, subject to the discretion of the Administrator and the terms of the 2009 Plan. The maximum stock award granted to one individual may not exceed 30,000 shares of common stock (subject to adjustment for stock splits, and similar events) for any calendar year. In April of 2013, the Board of Directors voted a Long Term Incentive Program for senior management members. The program is designed to be made up of three year rolling plans utilizing the shares made available through the 2009 Plan. Grants may be given in time vested restricted stock awards, performance vested restricted stock awards, or a combination of both. Compensation expense recognized in connection with the stock based compensation plans are presented in the following table for the years ended December 31, 2014, 2013, and 2012:
|  | 2014 |  | 2013 |  | 2012
Stock options and restricted stock awards | $ | 296 | $ | 255 | $ | 177
Long-term performance stock units |  | 173 |  | 63 | - | --
Long-term restricted stock units |  | 61 |  | 80 | - | --
Total compensation expense | $ | 530 | $ | 398 | $ | 177
For the years ended December 31, 2014, 2013, and 2012, the total anti-dilutive stock options amounted to 43, 90, and 54 thousand shares, respectively. The fair value of options was estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions for stock option grants during the years ended December 31:
|  | 2014 |  |  | 2013 |  |  | 2012 |
Risk free interest rate |  | 1.24 | % |  | 1.55 | % |  | 1.13 | %
Expected market volatility factor |  |  |  |  |  |  |  |  |
for the Company's stock |  | 29.38 | % |  | 26.44 | % |  | 26.08 | %
Dividend yield |  | 6.20 | % |  | 3.39 | % |  | 3.40 | %
Expected life of the options (years) |  | 6.2 |  |  | 7.0 |  |  | 6.9 |
Options granted |  | 45,000 |  |  | 40,500 |  |  | 56,250 |
Estimated fair value of options granted | $ | 5.00 |  | $ | 6.63 |  | $ | 5.85 |
The expected market price volatility for the grants during 2014 was determined by using the Companys historical stock price volatility on a daily basis during the three to seven year periods ending December 31, 2014, consistent with the expected life of the 2014 options. Stock Option and Restricted Stock Awards Activity: A summary combined status of the ISOP and the 2009 Plan as of December 31, 2014, and changes during the year then ended is presented below:
| Number of |  |  |  |  |  |  | Weighted |  |  |  | Aggregate
| Stock Options |  |  | Exercise |  | Average |  | Intrinsic |  | Intrinsic
| Outstanding |  |  | Price Range |  | Exercise Price |  | Value |  | Value
|  |  |  | From |  | To |  |  |  |  |  |
Outstanding at January 1, 2014 | 235,010 |  | $ | 14.55 | $ | 27.08 | $ | 21.15 |  |  |  |
Granted | 45,000 |  | $ | 24.93 | $ | 27.81 | $ | 25.79 |  |  |  |
Exercised | (31,760 | ) | $ | 15.44 | $ | 25.07 | $ | 19.71 |  |  |  |
Cancelled | (7,942 | ) | $ | 15.44 | $ | 24.93 | $ | 21.22 |  |  |  |
Outstanding at December 31, 2014 | 240,308 |  | $ | 14.55 | $ | 27.81 | $ | 22.21 | $ | 3.94 | $ | 2,353
Ending vested and expected to |  |  |  |  |  |  |  |  |  |  |  |
vest December 31, 2014 | 232,527 |  | $ | 14.55 | $ | 27.81 | $ | 22.33 | $ | 3.97 | $ | 2,248
Exercisable at December 31, 2014 | 90,520 |  | $ | 14.55 | $ | 27.08 | $ | 20.67 | $ | 3.52 | $ | 1,026
| Number of |  |  |  |
| Restricted Stock |  |  |  | Weighted Average
| Awards |  |  |  | Grant Date
| Outstanding |  |  |  | Fair Value
Outstanding at January 1, 2014 | 0 |  | $ | - | --
Awarded | 3,445 |  | $ |  | 30.10
Released | (3,445 | ) | $ |  | 30.10
Forfeited | 0 |  | $ | - | --
Outstanding at December 31, 2014 | 0 |  | $ | - | --
The intrinsic value of the options exercised and cash received by the Company for options exercised for the years ended December 31, 2014, 2013, and 2012, was approximately $390 and $626, $201and $453, $345 and $1,174, respectively. The tax benefit received related to the exercise of options in 2014, 2013 and 2012, was $43, $19 and $35, respectively. As of December 31, 2014, there was approximately $322 of unrecognized compensation cost related to unvested stock option awards, net of estimated forfeitures. This amount is expected to be recognized as expense over the next seven years, with a weighted average recognition period of 2.66 years. Stock Options Outstanding: The following table summarizes stock options outstanding and exercisable by exercise price range at December 31, 2014:
|  |  |  |  | Options Outstanding |  |  | Options Exercisable |  |
|  |  |  |  | Weighted |  |  |  | Weighted |  |
|  |  |  | Number | Average |  | Weighted | Number | Average |  | Weighted
|  |  |  | Outstanding | Remaining |  | Average | Exercisable | Remaining |  | Average
| Range of Exercise | As of | Contractual |  | Exercise | As of | Contractual |  | Exercise
| Prices | 12/31/14 | Term(years) |  | Price | 12/31/14 | Term(years) |  | Price
$ | 14.55 | $ | 27.81 | 240,308 | 6.48 | $ | 22.21 | 90,520 | 4.24 | $ | 20.67
Performance Stock Units: During 2014, performance stock unit awards were granted to certain executive officers providing the opportunity to earn shares of common stock of the Company ranging from zero to 8,340 shares. The performance shares granted were valued at between $27.81 and $27.86 the fair market value at the date of grant, and will be earned over a three year performance period. The current assumption based on the most recent peer group information results in the shares earned at 150% of the target, or 8,340 shares. The following table summarizes performance units as of December 31, 2014:
|  |  | Weighted Average
| Number |  | Grant Date
| of Shares |  | Fair Value
Outstanding at January 1, 2014 | 10,444 | $ | 23.86
Granted | 8,340 |  | 27.96
Vested | 0 | - | --
Forfeited | 889 |  | 23.76
Outstanding at December 31, 2014 | 17,895 | $ | 25.77
Restricted Stock Units: During 2014, restricted stock unit awards were granted to certain Restricted Stock Units: During 2014, restricted stock unit awards were granted to certain executive officers. The restricted shares granted were valued at between $27.81 and $27.86 the fair market value at the date of grant, and will be vested over a three year period. The following table summarizes restricted stock units as of December 31, 2014:
|  |  | Weighted Average
| Number |  | Grant Date
| of Shares |  | Fair Value
Outstanding at January 1, 2014 | 8,386 | $ | 23.83
Granted | 8,266 |  | 27.95
Vested | 2,878 |  | 23.80
Forfeited | 596 |  | 23.76
Outstanding at December 31, 2014 | 13,178 | $ | 26.42
As of December 31, 2014, there was $714 of total unrecognized compensation cost related to nonvested restricted stock units and performance stock units granted under the Plans. That cost is expected to be recognized over a weighted average period of 2.2 years.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: 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 Reference 2: 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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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