Equity Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Restricted Share Awards

A summary of the Company’s restricted share awards for the years ended December 31, 2015, 2014 and 2013 is as follows:

	December 31, 2015				December 31, 2014				December 31, 2013
	Number of Shares		Weighted - Average  Grant Date Fair Value		Number of Shares		Weighted - Average  Grant Date Fair Value		Number of Shares		Weighted - Average  Grant Date Fair Value
Non-vested at beginning of the period	179,641		$	14.92	158,035		$	12.39	140,077		$	12.70
Granted	85,254		26.59		87,018		17.46		81,658		13.43
Vested	(94,415	)	13.80		(65,412	)	12.17		(63,700	)	14.39
Non-vested at end of the period	170,480		$	21.38	179,641		$	14.92	158,035		$	12.39

A summary of the restricted shares granted to executive officers that have not fully vested pursuant to the Equity Incentive Plan as of December 31, 2015 are:

Award Type	Award Date	Total Shares Granted	Vested as of December 31, 2015
2013 Time-based Awards	1/29/2013	40,829	27,222
2013 Performance-based Awards	5/17/2013	40,829	27,222
2014 Time-based Awards	1/31/2014	48,213	16,071
2014 Performance-based Awards	1/31/2014	38,805	12,935
2015 Time-based Awards	1/30/2015	40,161	—
2015 Performance-based Awards	1/30/2015	36,144	—
2015 Time-based Awards	6/1/2015	8,949	—

Schedule of Share-based Payment Award, Valuation Assumptions

The grant date fair value of the performance LTIP awards were determined using a Monte Carlo simulation method with the following assumptions (based on the three year risk free U.S. Treasury yield over the measurement period of the LTIP awards):

Performance Award Grant Date	Volatility		Dividend Yield		Risk Free Interest Rate
6/1/2015	26	%	4.5	%	0.95	%

The grant date fair value of the performance awards were determined using a Monte Carlo simulation method with the following assumptions:

Performance Award Grant Date	Volatility		Dividend Yield		Risk Free Interest Rate
5/17/2013	35	%	—	%	0.43	%
1/31/2014	27	%	—	%	0.71	%
1/30/2015	29	%	—	%	0.84	%