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Share Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan
Changes in the stock options outstanding under the 2009 Plan, for the years ended December 31, 2017, 2016 and 2015 are summarized as follows:

 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
 
 
Number of
Options
 
Weighted
Average
Exercise Price
 
Number of
Options
 
Weighted
Average
Exercise Price
 
Number of
Options
 
Weighted
Average
Exercise Price
Outstanding at beginning of year
 
481,381

 
$
16.52

 
407,832

 
$
15.33

 
316,423

 
$
14.02

Granted
 
185,600

 
27.85

 
129,550

 
18.77

 
125,434

 
18.03

Exercised
 
(155,769
)
 
14.60

 
(43,801
)
 
12.15

 
(29,975
)
 
12.62

Lapsed or canceled
 
(3,720
)
 
15.69

 
(12,200
)
 
16.54

 
(4,050
)
 
16.40

Outstanding at end of year
 
507,492

 
$
21.26

 
481,381

 
$
16.52

 
407,832

 
$
15.33

Options exercisable at end of year
 
142,859

 
$
16.65

 
173,781

 
$
14.49

 
105,889

 
$
12.99
Schedule of Weighted Average Number of Shares
Options outstanding and exercisable at year end 2017 were as follows:

 
 
Options Outstanding
 
Options Exercisable
 
 
 
 
Weighted-
Average
 
Weighted
 
 
 
 
 
Weighted-
Average
 
Weighted
 
 
Range of
 
 

 
Remaining
 
Average
 
 
 
 

 
Remaining
 
Average
 
 

Exercise
 
Number
 
Contractual
 
Exercise
 
Intrinsic
 
Number
 
Contractual
 
Exercise
 
Intrinsic
Price
 
Outstanding
 
Life (in yrs)
 
Price
 
Value
 
Exercisable
 
Life (in yrs)
 
Price
 
Value
$12.79-$19.85
 
311,142

 
1.89
 
$
17.24

 
$
3,297

 
139,484

 
1.26
 
$
16.50

 
$
1,582

$20.34-$28.17
 
196,350

 
4.32
 
27.62

 
56

 
3,375

 
3.45
 
22.99

 
17

 
 
507,492

 
2.83
 
$
21.26

 
$
3,353

 
142,859

 
2.91
 
$
16.65

 
$
1,599
Share-based Compensation Arrangements by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding
The fair value of stock options granted was estimated using the Black Scholes option pricing model with the following weighted average assumptions:

 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
Expected life of options granted
 
5.00 Years

 
4.12 Years

 
4.09 Years

Risk-free interest rate
 
1.49
%
 
1.25
%
 
1.06
%
Expected volatility of stock
 
29
%
 
30
%
 
30
%
Annual expected dividend yield
 
3
%
 
3
%
 
3
%
Fair value of granted options
 
$
1,143,434

 
$
473,272

 
$
357,456

Nonvested Options
 
364,633

 
307,600

 
301,943