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Stock-Based Compensation | 12 Months Ended
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Dec. 31, 2013
Share-based Compensation [Abstract] |
Stock-Based Compensation | Stock-Based Compensation The exercise price of stock options granted under this plan, both incentive and non-qualified, cannot be less than the fair market value of the common stock on the date that the option is granted. The maximum term for an option granted under this plan is ten years and options granted may be subject to a vesting schedule. All of the non-qualified stock options granted under the plan had a ten year term and were subject to a vesting period. The following table summarizes options outstanding at December 31, 2013, 2012, and 2011:
|  | 2013 |  | 2012 |  | 2011
|  | Shares |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value |  | Shares |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price
Outstanding, beginning of year |  | 20,000 |  |  | $ | 21.59 |  |  |  |  | 22,000 |  |  | $ | 21.59 |  |  | 22,000 |  |  | $ | 21.59 |
Granted |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
Exercised |  | (3,872 | ) |  | 21.63 |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
Forfeited |  | (6,128 | ) |  | 21.63 |  |  |  |  | (2,000 | ) |  | 21.59 |  |  | — |  |  | — |
Outstanding, end of year |  | 10,000 |  |  | $ | 21.55 |  |  |  |  | 20,000 |  |  | $ | 21.59 |  |  | 22,000 |  |  | $ | 21.59 |
Exercisable, end of year |  | 10,000 |  |  | $ | 21.55 |  |  | $ | 9,500 |  |  | 20,000 |  |  | $ | 21.59 |  |  | 22,000 |  |  | $ | 21.59 |
Weighted average fair value of options granted during the year |  |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  |  |  | $ | — |
The aggregate intrinsic value in the table is equal to the amount that would have been received by the option holders had all options been exercised on December 31, 2013. It is derived from the amount by which the current market value of the underlying stock exceeds the exercise price of the option. This amount fluctuates in relation to the market value of the Company’s stock. The following table summarizes options outstanding and exercisable at December 31, 2013:
|  | Options Outstanding |  | Options Exercisable
Exercise Price |  | Number Outstanding |  | Weighted Average Remaining Contractual Life (in years) |  | Weighted Average Exercise Price |  | Number Exercisable |  | Weighted Average Exercise Price
$ | 21.55 |  |  | 10,000 |  |  | 0.75 |  | $ | 21.55 |  |  | 10,000 |  |  | $ | 21.55 |
Restricted Stock provides grantees with rights to shares of common stock upon completion of a service period or achievement of Company performance measures. During the restriction period, all shares are considered outstanding and dividends are paid to the grantee. Outside directors are periodically granted restricted shares which vest over a period of less than six months. During 2013, executive officers were granted restricted shares which vest over a three year service period and restricted shares which vest based on meeting performance measures over a three year period. The following table presents the activity for Restricted Stock for the years ended December 31, 2013, 2012 and 2011:
| Twelve Months Ended
| December 31,
| 2013 |  | 2012 |  | 2011
| Shares |  | Weighted Average Grant Date Fair Value |  | Shares |  | Weighted Average Grant Date Fair Value |  | Shares |  | Weighted Average Grant Date Fair Value
Nonvested, beginning of period | 16,500 |  |  | $ | 16.53 |  |  | 13,700 |  |  | $ | 16.11 |  |  | 12,772 |  |  | $ | 16.89 |
Granted | 14,900 |  |  | 22.06 |  |  | 14,500 |  |  | 17.87 |  |  | 12,300 |  |  | 16.76 |
Vested | (13,699 | ) |  | 18.30 |  |  | (10,963 | ) |  | 17.79 |  |  | (9,291 | ) |  | 17.55 |
Forfeited | (651 | ) |  | 16.75 |  |  | (737 | ) |  | 16.25 |  |  | (2,081 | ) |  | 18.38 |
Nonvested, end of period | 17,050 |  |  | $ | 19.92 |  |  | 16,500 |  |  | $ | 16.53 |  |  | 13,700 |  |  | $ | 16.11 |
The Company recognizes compensation expense over the restricted period. Compensation expense was $305 thousand, $242 thousand, and $166 thousand during December 31, 2013, 2012, and 2011, respectively. The total grant date fair value of Restricted Stock which vested was $251 thousand and $195 thousand for the years ended December 31, 2013 and 2012, respectively. Unrecognized compensation cost related to unvested Restricted Stock was $65 thousand at December 31, 2013. This amount is expected to be recognized over a weighted average period of 1.01 year.

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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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