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Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

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

Schedule of stock option activity

At December 31, 2016, there were 40,750 shares available for future grants.

		2016								2015								2014
						Weighted								Weighted								Weighted
						average								average								average
						exercise								exercise								exercise
		Shares				price				Shares				price				Shares				price
Options outstanding, beginning of year			40,750			$	21.69				20,250			$	16.65				38,625			$	17.29
Options granted			—				—				30,000				23.30				—				—
Options exercised			8,000				17.95				9,500				16.03				14,550				18.87
Options forfeited or expired			750				18.85				—				—				3,825				18.51
Options outstanding, end of year			32,000			$	22.69				40,750			$	21.69				20,250			$	16.65
Options exercisable at December 31			22,000			$	22.69				18,250			$	19.70				20,250			$	16.65

Schedule of outstanding stock options

Information pertaining to options outstanding at December 31, 2016 is as follows:

Exercise price of stock options:				Number of options outstanding at year-end			Number of options exercisable at year-end			Average remaining contractual life (in years)
$	13.50			2,000			2,000			1.08
$	23.30			30,000			20,000			9.09

Schedule of weighted-average assumptions as of the grant date

The fair value of stock options granted during 2015 was $106,000; determined using the following weighted-average assumptions as of the grant date.

		2015
Risk-free interest rate			2.28	%
Expected option life			5.75 years
Expected stock price volatility			22.95	%
Dividend yield			3.64	%
Fair value of options granted		$	3.54

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- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ 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

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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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