Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Total Stock-Based Compensation Expense by Type of Award

Total stock-based compensation expense by type of award was as follows for the years ended December 31:



In Thousands	2014		2013		2012

Stock options	$	488	$	364	$	746
Stock appreciation rights (“SARs”)	$	215	$	—	$	—
Total stock-based compensation expense	$	703	$	364	$	746

Tax benefit on exercise of stock options	$	123	$	175	$	12

Summary of Stock Option Activity

The following presents a summary of stock option activity for the year ended December 31, 2014:



	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (In Thousands)

Outstanding at January 1, 2014	309,250		$	25.73
Granted	49,000		51.63
Exercised	(25,350	)	20.84
Forfeited/Cancelled	(2,000	)	24.93
Outstanding at December 31, 2014	330,900		$	29.95	5.41	$	3,175
Vested and exercisable at December 31, 2014	199,179		$	25.27	3.81	$	2,433

Stock Options Valuation Assumptions

The fair value of stock options granted during the years ended December 31, 2014, 2013, and 2012, was estimated on the date of grant using a Black-Scholes option pricing model and the following weighted average assumptions:



	Year Ended December 31,
	2014		2013	2012

Risk-free interest rate	1.57	%	n/a	0.78	%
Expected dividend yield	0.15	%	n/a	0.28	%
Expected volatility	32.9	%	n/a	44.9	%
Expected lives	5.0 years		n/a	5.0 years