STOCK-BASED COMPENSATION PLANS

3 Months Ended

Mar. 31, 2015

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS

NOTE 10. STOCK-BASED COMPENSATION PLANS

A combined summary of activity in the Company’s stock award and stock option plans for the three months ended March 31, 2015 is presented in the following table:

	Non-vested Stock
	Awards Outstanding				Stock Options Outstanding
			Weighted-				Weighted-
			Average				Average
	Number of		Grant Date		Number of		Exercise
(Shares in thousands)	Shares		Fair Value		Shares		Price
Balance, December 31, 2014	424		$	24.33	282		$	20.42
Granted	92		24.90		—		—
Stock options exercised	—		—		(11	)	10.52
Stock awards vested	(82	)	24.22		—		—
Forfeited	(10	)	23.50		—		—
Expired	—		—		—		—
Balance, March 31, 2015	424		$	24.48	271		$	21.12
Exercisable options, March 31, 2015					271		$	21.12

During the three months ended March 31, 2015 and 2014, proceeds from stock option exercises totaled $116 thousand and totaled $718 thousand, respectively.  During the quarter ended March 31, 2015, there were 82 thousand shares issued in connection with vested stock awards.  During the three months ended March 31, 2014, there were 62 thousand shares issued in connection with vested stock awards.  All of these shares were issued from available treasury stock.  Stock-based compensation expense totaled $993 thousand and $932 thousand during the quarters ended March 31, 2015 and 2014, respectively.  Stock-based compensation expense is recognized ratably over the requisite service period for all awards.