Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

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

A summary of all restricted stock/units activity as of December 31, 2015, 2016 and 2017 and changes during the years then ended are presented below.



	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2014	99,238		$	28.22	9.00	$	2,286
Granted	145,558		$	19.17	—	$	2,886
Vested	(99,238	)	$	28.22	—	$	2,100
Canceled/Forfeited	—		$	—	—	$	—
Outstanding, December 31, 2015	145,588		$	19.17	9.12	$	3,246
Granted	139,451		$	21.34	—	$	3,007
Vested	(145,558	)	$	19.17	—	$	2,963
Canceled/Forfeited	—		$	—	—	$	—
Outstanding, December 31, 2016	139,451		$	21.34	9.13	$	4,483
Granted	126,432		27.06		—	3,421
Vested	(81,494	)	21.20		—	2,361
Canceled/Forfeited	—		—		—	—
Outstanding, December 31, 2017	184,389		$	25.32	8.83	$	4,831

Stock Options Fair Value Assumptions

The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The expected life of options granted is based on the vesting period and historical exercise and post-vesting employment termination behavior for similar grants. We use historical data to estimate option exercise and employee termination within the valuation model; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes.



Weighted average Black -Scholes fair value assumption during the years ended December 31, are as follows:	2017		2015
Risk free rate	2.12	%	1.56	%
Expected life	6 years		6 years
Expected volatility	39.59	%	45.07	%
Expected dividend yield	—		—

Summary of Option Activity

A summary of all option activity as of December 31, 2015, 2016 and 2017 and changes during the years then ended are presented below:



	Number of Shares		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2014	432,269		$	17.55	4.89	$	2,786
Granted	50,000		$	22.90
Exercised	(66,000	)	$	11.76		481
Canceled/Forfeited	(1,500	)	$	30.41		$	—
Outstanding, December 31, 2015	414,769		$	19.07	5.08	$	1,814
Granted	—		$	—
Exercised	(62,083	)	$	16.79		625
Canceled/Forfeited	(2,500	)	$	22.90		—
Outstanding, December 31, 2016	350,186		$	19.45	4.25	$	4,453
Granted	32,750		28.15
Exercised	(55,666	)	20.12			446
Outstanding, December 31, 2017	327,270		$	20.21	4.28	$	2,255
Exercisable, December 31, 2017	278,689		$	19.12	3.54	$	2,203

Summary of Stock Options Outstanding

The following table summarizes information about our stock options outstanding at December 31,:



Range of Exercise Prices	Options Outstanding				Options Exercisable
Range of Exercise Prices	Shares	Weighted Average Remaining Contractual Life (years)	Weighted Average Exercise Price		Shares	Weighted Average Exercise Price
$0.01-15.70	65,852	1.56	$	9.82	65,852	$	9.82
$15.71-17.81	72,750	1.79	$	17.53	72,750	$	17.53
$17.82-20.48	56,750	3.54	$	19.36	56,750	$	19.36
$20.49-33.36	131,918	7.34	$	27.23	83,337	$	27.70
	327,270	4.28	$	20.21	278,689	$	19.12

Summary of the Status of Unvested Stock Options

The summary of the status of our unvested stock options as of December 31, 2017 and changes during the year then ended is presented below.



Unvested stock options:	Shares		Weighted Average Grant Date Fair Value
Unvested at December 31, 2016	50,833		$	12.67
Granted	32,750		$	11.93
Vested	(35,002	)	$	13.73
Unvested at December 31, 2017	48,581		$	11.41