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Stock-Based Compensation Plans | 9 Months Ended
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Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
8. | Stock-Based Compensation Plans
During the three and nine months ended September 30, 2014, the Company recognized approximately $370,000 and $1,046,000, respectively, of compensation expense associated with stock option and restricted stock awards granted in years 2010 through 2014. During the three and nine months ended September 30, 2013, the Company recognized approximately $315,000 and $948,000, respectively, of compensation expense associated with stock option and restricted stock awards granted in years 2009 through 2012. The following table summarizes the stock option activity under the Company’s plans for the nine-month period ended September 30, 2014:
|  |  |  |  |  |  |  | Weighted |  |  |
|  |  |  |  | Weighted |  | Average |  |  |
|  |  |  |  | Average |  | Remaining |  | Aggregate |
|  |  |  |  | Exercise |  | Contractual |  | Intrinsic |
|  | Shares |  | Price |  | Term (Years) |  | Value* |
Outstanding at December 31, 2013 |  |  | 1,260,866 |  | $ | 24.41 |  |  |  |  |  |  |
Granted |  |  | 331,600 |  | $ | 27.04 |  |  |  |  |  |  |
Exercised |  |  | (59,100) |  | $ | 20.74 |  |  |  |  |  |  |
Forfeited or expired |  |  | (11,800) |  | $ | 25.49 |  |  |  |  |  |  |
Outstanding at September 30, 2014 |  |  | 1,521,566 |  | $ | 25.11 |  |  | 3.7 |  | $ | 1,742,000 |
Exercisable at September 30, 2014 |  |  | 519,981 |  | $ | 22.57 |  |  | 1.5 |  | $ | 1,321,000 |
| * | The aggregate intrinsic value of outstanding and exercisable stock options is defined as the difference between the market value of the Company's stock on September 30, 2014, the last trading day of the quarter, of $25.11 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.
The following table summarizes the Company’s stock option activity for the three and nine months ended September 30, 2014 and 2013:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2014 |  | 2013 |  | 2014 |  | 2013 |
|  | (Dollars in thousands) |
Total intrinsic value of stock options exercised |  | $ | 146 |  | $ | 151 |  | $ | 242 |  | $ | 1,317 |
Cash received from stock option exercises |  | $ | 618 |  | $ | 730 |  | $ | 1,226 |  | $ | 3,558 |
Income tax benefit from the exercise of stock options |  | $ | 48 |  | $ | 59 |  | $ | 85 |  | $ | 514 |
The following table summarizes the Company’s restricted stock award activity for the nine-month period ended September 30, 2014:
|  |  |  |  |  | Weighted |  |  |
|  |  |  | Weighted |  | Average |  |  |
|  | Shares of |  | Average |  | Remaining |  | Aggregate |
|  | Restricted |  | Grant Date |  | Contractual |  | Intrinsic |
|  | Stock |  | Fair Value |  | Term (Years) |  | Value* |
Non-vested at December 31, 2013 |  |  | 47,500 |  | $ | 25.86 |  |  |  |  |  |  |
Issued |  |  | 24,400 |  |  | 27.04 |  |  |  |  |  |  |
Vested |  |  | - |  |  | - |  |  |  |  |  |  |
Forfeited |  |  | - |  |  | - |  |  |  |  |  |  |
Non-vested at September 30, 2014 |  |  | 71,900 |  | $ | 26.26 |  |  | 2.8 |  | $ | 1,805,000 |
| * | The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on September 30, 2014, the last trading day of the quarter, of $25.11 multiplied by the number of non-vested restricted shares outstanding.

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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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