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Share-Based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2019

Share-Based Compensation Plans

Schedule of Company's stock option activity

The following table summarizes the Company’s stock option activity for the six-month period ended June 30, 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		(18,795)		$	27.75
Forfeited or expired		(2,750)		$	31.94
Outstanding at June 30, 2019		1,154,575		$	27.95		3.7		$	505,000
Exercisable at June 30, 2019		673,092		$	26.89		1.9		$	284,000

* 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 June 28 2019, the last trading day of the quarter, of $26.71 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.

Schedule of Company's stock option exercise activity

The following table summarizes the Company’s stock option exercise activity for the three and six months ended June 30, 2019 and 2018:

		Three Months Ended June 30,						Six Months Ended June 30,
		2019			2018			2019			2018
		(Dollars in thousands)
Total intrinsic value of stock options exercised		$	77		$	2,549		$	88		$	3,050
Net proceeds from stock option exercises		$	154		$	1,164		$	161		$	4,048
Income tax benefit from the exercise of stock options		$	20		$	663		$	23		$	793

Schedule of Company's restricted stock award

The following table summarizes the Company’s restricted stock award activity for the six-month period ended June 30, 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 June 30, 2019		62,080		$	30.72		2.2		$	1,658,000

* The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company’s stock on June 28, 2019, the last trading day of the quarter, of $26.71 multiplied by the number of non-vested restricted shares outstanding.

X

- Definition

Tabular disclosure of cash received from exercise of stock options and similar instruments granted under share-based payment arrangements and tax benefit from exercise of stock options.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2A
-Subparagraph (a)
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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

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-Publisher FASB
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