Equity-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2015

The following table details our compensation expense and the related income tax benefit as of December 31:



(Dollars in thousands)	2015		2014		2013
Employee equity-based compensation expense:
Performance shares	3,877		3,515		3,635
Restricted stock units	881		622		742
Total employee equity-based compensation expense	$	4,758	$	4,137	$	4,377

Deferred compensation stock equivalent units expense	$	376	$	345	$	1,265

Total tax benefit recognized for shared-based payment awards	$	319	$	280	$	71

Fair Value of Performance Share Awards

The following table presents the key inputs used in calculating the fair value of the performance share awards in 2015, 2014 and 2013, and the resulting fair values:



	2015			2014			2013
Stock price as of valuation date	$	40.00		$	39.76		$	45.31
Risk-free rate	1.07		%	0.72		%	0.40		%

Summary of Outstanding Performance Share Awards

The following table summarizes outstanding performance share awards as of December 31, 2015, 2014 and 2013, and changes during those years:



(Dollars in thousands, except per share amounts)	2015					2014					2013
	SHARES			WEIGHTED AVG. GRANT DATE FAIR VALUE		SHARES			WEIGHTED AVG. GRANT DATE FAIR VALUE		SHARES			WEIGHTED AVG. GRANT DATE FAIR VALUE
Unvested shares outstanding at January 1	160,233			$	53.86	155,814			$	48.73	160,214			$	44.50
Granted	78,974			36.71		87,441			45.57		83,111			62.78
Vested	(77,078		)	62.78		(76,202		)	34.24		(71,861		)	55.84
Forfeited	(1,080		)	41.29		(6,820		)	49.75		(15,650		)	47.32
Unvested shares outstanding at December 31	161,049			41.26		160,233			53.86		155,814			48.73
Total grant date fair value of share awards vested during the year	$	4,839				$	2,609				$	4,013
Aggregate intrinsic value of unvested share awards at December 31	$	4,697				$	6,709				$	6,504

Summary of Outstanding RSU Awards

A summary of the status of outstanding RSU awards as of December 31, 2015, 2014 and 2013, and changes during these years is presented below:



	2015					2014					2013
	SHARES			WEIGHTED AVE. GRANT DATE FAIR VALUE		SHARES			WEIGHTED AVE. GRANT DATE FAIR VALUE		SHARES			WEIGHTED AVE. GRANT DATE FAIR VALUE
Unvested shares outstanding at January 1	32,455			$	42.24	37,461			$	38.69	40,219			$	34.82
Granted	27,820			39.99		19,599			40.51		23,449			44.41
Vested	(15,385		)	44.50		(21,333		)	34.46		(19,796		)	38.19
Forfeited	(359		)	40.27		(3,272		)	42.06		(6,411		)	36.91
Unvested shares outstanding at December 31	44,531			40.95		32,455			42.24		37,461			38.69
Total grant date fair value of RSU awards vested during the year (in thousands)	$	289				$	735				$	756
Aggregate intrinsic value of unvested RSU awards at December 31 (in thousands)	$	1,347				$	1,359				$	2,511

Summary of Outstanding Stock Options

A summary of the status of outstanding stock options as of December 31 2014 and 2013 and changes during those years is presented below:



	2014				2013
	SHARES			WEIGHTED AVG. EXERCISE PRICE	SHARES			WEIGHTED AVG. EXERCISE PRICE
Outstanding at January 1	12,859			$30.92	83,827			$27.46
Shares exercised	(12,859		)	30.92	(70,968		)	26.25
Outstanding and exercisable at December 31	—			—	12,859			30.92
Total intrinsic value of options exercised during the year (in thousands)	$	150			$	1,423