Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

Stock-Based Compensation

Schedule of weighted average assumptions used in estimation of the fair value of options granted as of the grant date using the Black-Scholes option-pricing model

	Three Months Ended March 31,
	2015	2014
Estimated option life	6.5 Years	6.5 Years
Risk free interest rate	1.73 - 1.83%	2.17 - 2.34%
Expected volatility	36.90%	37.40%
Expected dividend yield	2.46%	1.80%

Summary of stock option activity

					Weighted
			Weighted		Average
			Average		Remaining	Aggregate
	Number of		Exercise		Contractual	Intrinsic
	Shares		Price		Term (Years)	Value
Outstanding at December 31, 2014	1,189,193		$	13.53
Granted	109,250		20.04
Exercised	(70,574	)	10.80
Forfeited	(5,150	)	13.43
Outstanding at March 31, 2015	1,222,719		$	14.27	6.47	$	6,978,208
Options exercisable at March 31, 2015	894,994		$	13.33	5.67	$	5,951,634

Summary of Non-vested stock options

			Weighted
			Average
	Number of		Grant Date
	Shares		Fair Value
Balance at December 31, 2014	378,550		$	5.56
Granted	109,250		5.93
Vested	(156,425	)	5.75
Forfeited	(3,650	)	4.97
Balance at March 31, 2015	327,725		$	5.60

Summary of Restricted stock grant activity

			Weighted
			Average
	Number of		Grant Date
	Shares		Fair Value
Balance at December 31, 2014	—		$	—
Granted	20,000		20.05
Vested	(6,663	)	20.05
Forfeited	—		—
Balance at March 31, 2015	13,337		$	20.05