XML 37 R19.htm IDEA: XBRL DOCUMENT v3.7.0.1
Stock Compensation
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Compensation
(12)   Stock Compensation
The Company’s stock option plan provides for the grant of options to purchase up to 553,361 shares of the Company’s common stock to officers and other key employees of the Company and its subsidiaries.
The following table summarizes the Company’s stock option activity:
     
Number of shares 
December 31
    
Weighted average 
exercise price 
December 31
    
Weighted average 
Contractual Term 
(in years)
    
Aggregate 
Intrinsic Value 
($000)
  
     
2016
    
2015
    
2014
    
2016
    
2015
    
2014
    
2016
    
2015
    
2014
    
2016
    
2015
    
2014
  
Outstanding, beginning of year         65,270           104,400           136,653         $  20.68         $  20.73         $  21.46                                                                            
Granted         0           0           0           0.00           0.00           0.00                                                                            
Exercised         0           0           0           0.00           0.00           0.00                                                                            
Forfeited or expired         (20,812)           (39,130)           (32,253)           21.89           20.82           23.81                                                                            
Outstanding, end of year         44,458           65,270           104,400         $ 20.11         $ 20.68         $ 20.73           0.99           1.41           1.93         $ 49,828         $ 0.00         $ 0.00    
Exercisable, end of year         43,189           57,487           92,336         $ 20.25         $ 21.39         $ 21.11           0.97           1.24           1.75         $ 46,859         $ 0.00         $ 0.00    
 
Options have been adjusted to reflect a 4% stock dividend paid on July 1, 2016.
Total stock-based compensation expense for the years ended December 31, 2016, 2015, and 2014 was $17,000, $10,000, and $20,000, respectively. As of December 31, 2016, the total unrecognized compensation expense related to non-vested stock awards was $20,000 and the related weighted average period over which it is expected to be recognized is approximately 0.38 years. No stock options were granted during the years presented above.