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Stockholders' Equity and Stock Plans (Tables) | 12 Months Ended
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Dec. 31, 2016
Equity [Abstract] |
Schedule of Share-based Compensation, Stock Options, Activity | A summary of activity for stock options for the years ended December 31, 2016, 2015 and 2014 is presented below. The intrinsic value of options outstanding and exercisable is calculated as the number of in-the-money options times the difference between the market price of our stock as of each year end presented and the exercise prices of the in-the-money options.
| Number of Shares |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value (in thousands) |  | Weighted Average Grant-Date Fair Value |  | Weighted Average Remaining Contractual Term (in years)
Options outstanding at December 31, 2013 | 220,456 |  | $ | 32.74 |  | $ | 2,349 |  |  |  | 4.05
Granted | 26,421 |  | 44.83 |  |  |  | $ | 12.04 |  |
Cancelled, expired or forfeited | (2,790 | ) | 39.01 |  |  |  |  |  |
Exercised | (49,415 | ) | 29.39 |  | 771 |  |  |  |
Options outstanding at December 31, 2014 | 194,672 |  | 35.14 |  | 3,398 |  |  |  | 4.48
Exercisable (vested) at December 31, 2014 | 133,153 |  | 32.31 |  | 2,701 |  |  |  | 2.88
Options outstanding at December 31, 2014 | 194,672 |  | 35.14 |  | 3,398 |  |  |  | 4.48
Granted | 28,320 |  | 50.70 |  |  |  | 12.21 |  |
Cancelled, expired or forfeited | (652 | ) | 48.38 |  |  |  |  |  |
Exercised | (37,071 | ) | 30.72 |  | 755 |  |  |  |
Options outstanding at December 31, 2015 | 185,269 |  | 38.35 |  | 2,788 |  |  |  | 5.00
Exercisable (vested) at December 31, 2015 | 114,581 |  | 34.12 |  | 2,209 |  |  |  | 3.21
Options outstanding at December 31, 2015 | 185,269 |  | 38.35 |  | 2,788 |  |  |  | 5.00
Granted | 32,637 |  | 49.37 |  |  |  | 10.11 |  |
Exercised | (36,117 | ) | 33.98 |  | 661 |  |  |  |
Options outstanding at December 31, 2016 | 181,789 |  | 41.20 |  | 5,190 |  |  |  | 5.77
Exercisable (vested) at December 31, 2016 | 103,211 |  | 36.65 |  | 3,416 |  |  |  | 4.18
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding | The following table shows the number, weighted average exercise price, intrinsic value, and weighted average remaining contractual life of options outstanding, vested and expected to vest as of December 31, 2016.
Number of options | 177,122 |
Weighted average exercise price | $ | 41.03 |
Aggregate intrinsic value (in thousands) | $ | 5,086 |
Weighted average remaining contractual term (in years) | 5.71 |
Schedule of Unrecognized Compensation Cost, Nonvested Awards | The following table summarizes non-vested restricted stock awards and changes during the years ended December 31, 2016, 2015 and 2014.
| Restricted Stock Awards
| Number of Shares |  | Weighted Average Grant-Date Fair Value |
Non-vested awards at December 31, 2013 | 22,521 |  | $ | 37.59 |
Granted | 8,523 |  | 45.36 |
Vested | (6,554 | ) | 34.65 |
Forfeited | (2,067 | ) | 39.32 |
Non-vested awards at December 31, 2014 | 22,423 |  | 41.25 |
Granted | 15,970 |  | 50.75 |
Vested | (6,555 | ) | 40.00 |
Forfeited | (450 | ) | 48.45 |
Non-vested awards at December 31, 2015 | 31,388 |  | 46.24 |
Granted | 16,910 |  | 49.65 |
Vested | (8,599 | ) | 44.14 |
Non-vested awards at December 31, 2016 | 39,699 |  | 48.15 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | A summary of the options outstanding and exercisable by price range as of December 31, 2016 is presented in the following table:
| Stock Options Outstanding as of December 31, 2016 |  | Stock Options Exercisable as of December 31, 2016
Range of Exercise Prices | Stock Options Outstanding |  | Remaining Contractual Life (in years) | Weighted Average Exercise Price |  |  | Stock Options Exercisable |  | Weighted Average Exercise Price |
$20.00 - $25.00 | 13,138 |  | 2.3 | $ | 22.25 |  |  | 13,138 |  | $ | 22.25 |
$25.01 - $30.00 | 10,180 |  | 1.3 | 28.75 |  |  | 10,180 |  | 28.75 |
$30.01 - $35.00 | 9,195 |  | 3.3 | 33.10 |  |  | 9,195 |  | 33.10 |
$35.01 - $40.00 | 46,588 |  | 4.1 | 37.70 |  |  | 39,038 |  | 37.48 |
$40.01 - $45.00 | 29,551 |  | 5.9 | 41.95 |  |  | 17,130 |  | 41.91 |
$45.01 - $50.00 | 45,187 |  | 8.7 | 48.40 |  |  | 5,020 |  | 45.88 |
$50.01 - $55.00 | 27,950 |  | 7.9 | 50.70 |  |  | 9,510 |  | 50.69 |
| 181,789 |  |  |  |  |  | 103,211 |  |  |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | We determine the fair value of stock options at the grant date using the Black-Scholes pricing model that takes into account the stock price at the grant date, the exercise price, and the following assumptions (weighted-average shown).
| Years ended December 31,
| 2016 |  | 2015 |  | 2014 |
Risk-free interest rate | 1.37 | % | 1.67 | % | 2.04 | %
Expected dividend yield on common stock | 2.02 | % | 1.75 | % | 1.70 | %
Expected life in years | 6.0 |  | 6.0 |  | 6.0 |
Expected price volatility | 25.56 | % | 28.06 | % | 30.32 | %
Summary of Cash Dividends Paid to Common Shareholders | Presented below is a summary of cash dividends paid to common shareholders, recorded as a reduction of retained earnings. On January 20, 2017, the Board of Directors declared a cash dividend of $0.27 per share, payable on February 10, 2017 to shareholders of record at the close of business on February 3, 2017.
| Years ended December 31,
(in thousands except per share data) | 2016 |  | 2015 |  | 2014 |
Cash dividends to common stockholders | $ | 6,223 |  | $ | 5,390 |  | $ | 4,733 |
Cash dividends per common share | $ | 1.02 |  | $ | 0.90 |  | $ | 0.80 |

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