Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2018

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

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The Company made the following awards of options to purchase shares of common stock during the three months ended March 31, 2018:

Options granted	145,000
Vesting period (years)	5
Term (years)	10
Fair value calculation assumptions:
Expected volatility	26.47	%
Expected life (years)	6.5
Expected dividend yield	3.21	%
Risk free interest rate	2.39	%
Weighted average grant date fair value	$4.12

Schedule of Share-based Compensation, Stock Options, Activity

A summary of the status of the Company's stock option grants for the three months ended March 31, 2018, is presented in the table below:

	Stock Option Awards			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding at December 31, 2017	2,684,650			$	14.70
Granted	145,000			20.70
Forfeited	(73,500		)	14.07
Exercised	(36,330		)	13.99			$	255,000
Outstanding at March 31, 2018	2,719,820			$	15.04	7.76	$	15,794,000
Exercisable at March 31, 2018	977,250			$	14.38	7.31	$	6,327,000
Unrecognized compensation cost inclusive of directors' options at March 31, 2018	$	6,692,000
Weighted average remaining recognition period (years)	3.05

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

The following table presents the activity in non-vested stock awards under the Equity Plan for the three months endedMarch 31, 2018:

	Outstanding Restricted Stock Awards		Weighted Average Grant Price
Nonvested stock awards at December 31, 2017	730,420		$	15.11
Granted	36,500		20.70
Vested	(48,749	)	17.03
Forfeited	(23,000	)	14.07
Nonvested stock awards at March 31, 2018	695,171		$	15.31
Unrecognized compensation cost inclusive of directors' awards at March 31, 2018	$9,367,000
Weighted average remaining recognition period (years)	3.09