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Share-Based Compensation Plans (Tables)

9 Months Ended

Sep. 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 nine-month period ended September 30, 2019:

							Weighted
				Weighted			Average
				Average			Remaining		Aggregate
				Exercise			Contractual		Intrinsic
		Shares		Price			Term (Years)		Value*
Outstanding at December 31, 2018		1,173,620		$	26.57
Granted		192,650		$	23.45
Exercised		(18,795)		$	27.75
Forfeited or expired		(2,850)		$	31.80
Outstanding at September 30, 2019		1,344,625		$	27.31		4.4		$	—
Exercisable at September 30, 2019		866,830		$	27.05		2.2		$	—

*     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, 2019 ($22.61)  and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.As of September 30, 2019, there were no in-the-money stock options outstanding, therefore the aggregate intrinsic value was zero.

Schedule of Company's stock option exercise activity

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

		Three Months Ended September 30,						Nine Months Ended September 30,
		2019			2018			2019			2018
		(Dollars in thousands)
Total intrinsic value of stock options exercised		$	—		$	654		$	88		$	3,704
Net proceeds from stock option exercises		$	—		$	260		$	161		$	4,308
Income tax benefit from the exercise of stock options		$	—		$	170		$	23		$	963

Schedule of Company's restricted stock award

The following table summarizes the Company’s restricted stock award activity for the nine-month period ended September 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		31,000			23.48
Vested		(23,745)			24.63
Non-vested at September 30, 2019		68,735		$	28.04		3.0		$	1,554,000

*     The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company’s stock on September 30, 2019 ($22.61) multiplied by the number of non-vested restricted shares outstanding.

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- 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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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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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.

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