Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2015

The following table presents the weighted-average assumptions used and the resulting weighted-average fair value of each option granted.



	2015			2014			2013
Weighted-average risk-free interest rate	1.90		%	2.16		%	1.42		%
Expected dividend yield	—		%	—		%	—		%
Weighted-average expected volatility	21.18		%	18.00		%	13.77		%
Weighted-average expected life (in years)	7.00			7.00			7.00
Weighted-average fair value of each option granted	$	6.42		$	4.52		$	3.17

The following summarizes stock option activity for the year ended December 31, 2015:



	Number of Shares		Weighted- average Exercise Price		Weighted- average Remaining Contractual Term in Years	Aggregate Intrinsic Value
	(dollars in thousands, except Weighted-average Exercise Price)
Outstanding, January 1, 2015	3,168,067		$	12.61
Granted	599,745		23.36
Exercised	(31,168	)	10.53			455
Forfeited	(2,200	)	17.65
Expired	(2,683	)	29.33
Outstanding, December 31, 2015	3,731,761		$	14.33	6.78	$	48,086
Exercisable at December 31, 2015	707,745		$	9.19	4.38	$	12,760

A summary of the status of Customers' non-vested options at December 31, 2015 and changes during the year ended December 31, 2015 is as follows:



	Options		Weighted- average exercise price
Non-vested at January 1, 2015	3,154,384		$	12.59
Granted	599,745		23.36
Vested	(725,163	)	12.50
Forfeited	(2,200	)	17.65
Non-vested at December 31, 2015	3,026,766		15.53

The table below presents the status of the restricted stock units at December 31, 2015 and changes during the year ended December 31, 2015:



	Restricted Stock Units		Weighted- average grant- date fair value
Outstanding and unvested at January 1, 2015	788,971		$	13.00
Granted	158,581		19.67
Vested	(65,218	)	12.02
Forfeited	(9,070	)	17.15
Outstanding and unvested at December 31, 2015	873,264		$	14.24