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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2017
Stock option plans  
STOCK OPTION PLANS  
Schedule of summary of activity under the stock option plans

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 

 

 

2017

 

2016

 

 

Number of

 

Weighted

 

Number of

 

Weighted

 

 

Shares

 

Average

 

Shares

 

Average

 

 

Underlying

 

Exercise

 

Underlying

 

Exercise

(Dollars in thousands, except per share data)

 

Options

 

Price

 

Options

 

Price

Options outstanding at beginning of period

 

248,314

 

$

12.80

 

647,074

 

$

10.99

Granted

 

80,000

 

$

21.00

 

 —

 

$

 —

Forfeited

 

(56,832)

 

$

10.14

 

(5,062)

 

$

9.85

Exercised

 

(11,160)

 

$

10.47

 

(393,698)

 

$

9.87

Options outstanding at end of period

 

260,322

 

$

16.00

 

248,314

 

$

12.80

 

Schedule of fair value of each option grant estimated on the date of grant using the Black-Scholes option pricing model

 

 

 

 

 

 

 

Year Ended

 

 

Year Ended

 

 

December 31, 

 

 

December 31, 

 

 

2017

 

 

2015

 

Dividend yield

0.95

%

 

1.19

%

Expected volatility

35.97

%

 

8.96

%

Risk free interest rate

2.42

%

 

2.05

%

Expected life in years

6.0

 

 

6.0

 

 

Schedule of exercisable, unvested and outstanding of stock options and restricted stock

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2017

Stock Options

 

 

Exercisable

 

 

Unvested

 

 

Outstanding

Number of shares underlying options

 

 

127,122

 

 

133,200

 

 

260,322

Weighted-average exercise price per share

 

$

12.49

 

$

19.36

 

$

16.00

Aggregate intrinsic value (in thousands)

 

$

2,183

 

$

1,372

 

$

3,555

Weighted-average contractual term (years)

 

 

4.5

 

 

8.6

 

 

6.6

 

Restricted Stock  
STOCK OPTION PLANS  
Schedule of exercisable, unvested and outstanding of stock options and restricted stock

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2017

Restricted stock

 

 

Exercisable

 

 

Unvested

 

 

Outstanding

Number of shares underlying restricted stock

 

 

 —

 

 

212,580

 

 

212,580

Weighted-average grant date fair value per share

 

$

 —

 

$

27.27

 

$

27.27

Aggregate grant date fair value (in thousands)

 

$

 —

 

$

5,797

 

$

5,797

Weighted-average contractual term (years)

 

 

 —

 

 

4.4

 

 

4.4