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Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Assumptions Used To Determine Fair Value of Stock Options
The following assumptions were used to determine the fair value of stock options as of the grant date to determine compensation expense for the years ended December 31, 2014, 2013, and 2012:
Stock Options:
2014

2013

2012
Grant date fair value

$6.73



$5.59



$4.42

Expected life of options
8 years


8 years


8 years

Risk-free interest rate
2.21
%

2.30
%

1.30
%
Dividend yield rate
2.64
%

2.90
%

2.80
%
Price volatility
28.93
%

28.89
%

28.51
%
Stock Options Activity
The following table summarizes stock options activity during 2014
 
 Number of Shares

Weighted Average Exercise Price

Weighted Average Remaining Contractual Life, in Years
 


 


Outstanding at January 1, 2014
205,486



$21.32


 
Granted
18,321


27.28


 
Forfeited
(2,206
)

24.60


 
Exercised
(41,611
)

21.57


 
Outstanding at December 31, 2014
179,990



$21.83


4.06
Restricted Stock Unit Activity
The following table summarizes restricted stock unit activity during 2014:
 
 Number of Shares

Weighted Average Grant Date Fair Value

Weighted Average Remaining Contractual Life, in Years
 


 


Outstanding at January 1, 2014
59,118



$21.03


 
Granted
22,118


27.28


 
Vested
(15,246
)

18.40


 
Forfeited
(6,504
)

20.95


 
Outstanding at December 31, 2014
59,486



$24.03


1.93