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Stock-Based Compensation Plans

3 Months Ended

Mar. 31, 2019

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

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

10. Stock-Based Compensation Plans

During the three months ended March 31, 2019, the Company recognized $366,000 of compensation expense associated with stock option and restricted stock awards granted in years 2015 through 2019. During the three months ended March 31, 2018, the Company recognized $351,000 of compensation expense associated with stock option and restricted stock awards granted in years 2014 through 2017.

The following table summarizes the Company’s stock option activity for the three-month period ended March 31, 2019:

										Weighted
						Weighted				Average
						Average				Remaining				Aggregate
						Exercise				Contractual				Intrinsic
		Shares				Price				Term (Years)				Value*
Outstanding at December 31, 2018			1,173,620			$	27.96
Granted			2,500			$	28.77
Exercised			(3,250	)		$	27.97
Forfeited or expired			(1,430	)		$	30.43
Outstanding at March 31, 2019			1,171,440			$	27.96				3.9			$	4,316,000
Exercisable at March 31, 2019			688,757			$	26.91				2.1			$	2,789,000

* 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 March 29, 2019, the last trading day of the quarter, of $30.96 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 exercise activity for the three months ended March 31, 2019 and 2018:

		Three Months Ended March 31,
		2019				2018
		(Dollars in thousands)
Total intrinsic value of stock options exercised		$	11			$	501
Cash received from stock option exercises		$	7			$	2,884
Income tax benefit from the exercise of stock options		$	3			$	130

        The following table summarizes the Company’s restricted stock award activity for the three-month period ended March 31, 2019:

										Weighted
						Weighted				Average
		Shares of				Average				Remaining				Aggregate
		Restricted				Grant Date				Contractual				Intrinsic
		Stock				Fair Value				Term (Years)				Value*
Non-vested at December 31, 2018			61,480			$	30.74
Issued			600			$	28.77
Vested			-				-
Forfeited			-				-
Non-vested at March 31, 2019			62,080			$	30.72				2.4			$	1,922,000

* The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company's stock on March 29, 2019, the last trading day of the quarter, of $30.96 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI http://asc.fasb.org/topic&trid=2228938

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-URI http://asc.fasb.org/subtopic&trid=2208855

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- References

No definition available.

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