Stock Options and Restricted Shares (Tables)

9 Months Ended

Sep. 30, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Company Recognized Stock-Based Compensation Expense

The Company has recognized stock-based compensation expense, within salaries and employee benefits for employees, and within other non-interest expense for directors, in the consolidated statements of income as follows (dollars in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2018			2017			2018			2017
Stock-based compensation expense before income taxes	$	310		$	288		$	940		$	771
Less: deferred tax benefit		(81	)		(110	)		(246	)		(295	)
Reduction of net income	$	229		$	178		$	694		$	476

Summary of Changes in Company's Nonvested Restricted Shares

A summary of the changes in the Company’s nonvested restricted shares for the nine months ended September 30, 2018 follows:

				Weighted
				Average
	Restricted			Grant Date
Nonvested Shares	Shares			Fair Value
Nonvested at beginning of period		187,253		$	14.21
Granted		53,869			19.11
Vested		(99,603	)		12.61
Forfeited		(8,065	)		15.95
Nonvested at end of period		133,454		$	17.28

Summary of Activity in Stock Options

A summary of the activity in stock options for the nine months ended September 30, 2018 follows:

						Weighted
				Weighted		Average
				Average		Remaining
				Exercise		Contractual
	Shares			Price		Term (years)
Outstanding at beginning of period		804,800		$	10.59
Granted		—			—
Exercised		(508,834	)		10.11
Forfeited or expired		—			—
Outstanding at end of period		295,966		$	11.43		4.0
Fully vested and expected to vest		294,134		$	11.42		3.7
Exercisable at end of period		268,466		$	11.34		3.7

Information Related to Stock Options

Information related to stock options during each year follows:

	2018		2017
Intrinsic value of options exercised	$	4,282,055	$	684,275
Cash received from option exercises		5,144,090		821,500
Tax benefit realized from option exercises		1,119,329		263,446
Weighted average fair value of options granted		—		—