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Stock Option Grants | 9 Months Ended
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Sep. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock Option Grants |
12. | STOCK OPTION GRANTS
As of September 30, 2015 and September 30, 2014, the Company had outstanding stock option awards that were granted by USBI to certain employees and non-employee directors under the 2013 Incentive Plan. The stock option awards were granted with an exercise price equal to the market price of USBI’s common stock on the date of the grant. The awards granted were either fully vested or had a vesting period of one year, with a contractual 10-year term. The Company recognizes the cost of services received in exchange for stock options based on the grant date fair value of the award. The fair value is determined using the Black-Scholes option pricing model, and the compensation cost is recognized on a straight-line basis over the vesting period of the award. Stock-based compensation expense related to stock options was $0.2 million and $0.3 million for the nine-month periods ended September 30, 2015, and September 30, 2014, respectively. The following table summarizes the Company’s stock option activity for the periods presented.
|  | Nine Months Ended |
|  | September 30, 2015 |  |  | September 30, 2014 |
|  | Number of Shares |  |  | Average Exercise Price |  |  | Number of Shares |  |  | Average Exercise Price |
Options: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding, beginning of period |  |  | 83,400 |  |  | $ | 8.09 |  |  |  | — |  |  | $ | — |
Granted |  |  | 96,150 |  |  |  | 8.23 |  |  |  | 83,400 |  |  |  | 8.09 |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Expired |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited |  |  | 2,500 |  |  |  | 8.09 |  |  |  | — |  |  |  | — |
Options outstanding, end of period |  |  | 177,050 |  |  | $ | 8.16 |  |  |  | 83,400 |  |  | $ | 8.09 |
Options exercisable, end of period |  |  | 81,900 |  |  | $ | 8.09 |  |  |  | 72,650 |  |  | $ | 8.10 |
The awards granted in 2015 have a vesting period of one year, with a contractual 10-year term. To calculate the fair value of these awards, the Company used a risk-free interest rate of 1.5%, an expected option life of 7.5 years and a dividend rate of 1.5%. Stock price volatility was calculated using a three-year stock price history. The aggregate intrinsic value of stock options outstanding (calculated as the amount by which the market value of the underlying stock exceeds the exercise price of the option) was less than $0.1 million as of both September 30, 2015 and 2014.

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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 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 2: 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=51659978&loc=d3e25284-112666 Reference 3: 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 4: 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 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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