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Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
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, 2016, 2015, and 2014:
Stock Options:
2016

2015

2014
Grant date fair value

$6.31



$7.01



$6.73

Expected life of options
8 years


8 years


8 years

Risk-free interest rate
2.15
%

2.17
%

2.21
%
Dividend yield rate
2.85
%

2.64
%

2.64
%
Price volatility
27.37
%

28.63
%

28.93
%
Stock Options Activity
The following table summarizes stock option activity during 2016
 
 Number of Shares

Weighted Average Exercise Price

Weighted Average Remaining Contractual Life, in Years
 


 


Outstanding at January 1, 2016
199,747



$23.02


 
Granted
23,362


28.10


 
Forfeited
(11,516
)

25.94


 
Exercised
(37,836
)

22.38


 
Outstanding at December 31, 2016
173,757



$23.65


4.94
Restricted Stock Unit Activity
The following table summarizes restricted stock unit activity during 2016:
 
 Number of Shares

Weighted Average Grant Date Fair Value

Weighted Average Remaining Contractual Life, in Years
 


 


Outstanding at January 1, 2016
62,987



$26.69


 
Granted
26,058


28.10


 
Vested
(19,432
)

23.74


 
Forfeited
(4,712
)

28.09


 
Outstanding at December 31, 2016
64,901



$28.04


1.94