Stock Plan (Tables)

12 Months Ended

Dec. 31, 2015

Stock Plan Tables

Average assumptions used to value stock options

The average assumptions used to value each option award granted during the years ended December 31, 2012 and 2011 are as follows:

	Years ended December 31
	2012			2011
Weighted-average grant date fair value	$	3.21		$	2.53
Expected dividend yield		1.91	%		3.12	%
Expected volatility		28.01	%		28.74	%
Risk-free interest rate		1.94	%		2.02	%
Expected term (years)		10.00			10.00
Expected forfeiture		0.00	%		0.00	%

Stock option activity

The following table summarizes stock option activity for year ended December 31, 2015:

	Number of Shares		Weighted Average Exercise Price	Weighted Average Remaining Contractual Terms		Aggregate Intrinsic Value
Outstanding at December 31, 2014	100,000	$	10.99	6.72	$	44,934
Granted	—		—	—		—
Forfeited or expired	—		—	—		—
Exercised	—		—	—		—
Outstanding at December 31, 2015	100,000	$	10.99	5.72	$	—
Exercisable at December 31, 2015	45,620	$	10.96	5.67	$	—