Equity-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2015

Share-based Compensation [Abstract]

Details of Compensation Expense

The following table details compensation expense and the related income tax benefit:

	Quarter Ended   September 30,					Nine Months Ended   September 30,
(Dollars in thousands)	2015			2014		2015		2014
Employee equity-based compensation expense:
Performance shares	$	1,090		$	882	$	2,912	$	2,577
Restricted stock units	240			144		677		481
Total employee equity-based compensation expense	$	1,330		$	1,026	$	3,589	$	3,058
Deferred compensation stock equivalent units expense (income)	$	(1	)	$	62	$	165	$	217
Total tax benefit recognized for share-based expense	$	89		$	111	$	241	$	125

Fair Value of Performance Share Awards

The following table presents the key inputs used in the Monte Carlo simulation method to calculate the fair value of the performance share awards in 2015 and 2014, and the resulting fair values:

	Nine Months Ended   September 30,
	2015			2014
Shares granted	78,974			87,441
Stock price as of valuation date	$	40.00		$	39.76
Risk-free rate	1.07		%	0.72		%
Fair value of a performance share	$	36.71		$	45.57

Summary of Outstanding Performance Share Awards

The following table summarizes outstanding performance share awards as of September 30, 2015, and changes during the nine months ended September 30, 2015:

(Dollars in thousands, except grant date fair value)	Shares		Weighted-Avg. Grant Date Fair Value		Aggregate Intrinsic Value
Unvested shares outstanding at January 1	160,233		$	53.86
Granted	78,974		$	36.71
Forfeited	(1,079	)	$	41.29
Unvested shares outstanding at September 30	238,128		$	48.23	$	6,690

Summary of Outstanding RSU Awards

The following table summarizes outstanding RSU awards as of September 30, 2015, and changes during the nine months ended September 30, 2015:

(Dollars in thousands, except grant date fair value)	Shares		Weighted-Avg. Grant Date Fair Value		Aggregate Intrinsic Value
Unvested shares outstanding at January 1	32,455		$	42.24
Granted	27,820		$	39.99
Vested	(4,700	)	$	43.22
Forfeited	(359	)	$	40.27
Unvested shares outstanding at September 30	55,216		$	41.03	$	1,590