Stock Options and Restricted Shares (Tables)

3 Months Ended

Mar. 31, 2019

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 (in thousands):

	Three Months Ended
	March 31,
	2019			2018
Stock-based compensation expense before income taxes	$	344		$	305
Less: deferred tax benefit		(90	)		(80	)
Reduction of net income	$	254		$	225

Summary of Changes in Company's Nonvested Restricted Shares

A summary of the changes in the Company’s nonvested restricted shares for the three months ended March 31, 2019 follows:

				Weighted
				Average
	Restricted			Grant Date
Nonvested Shares	Shares			Fair Value
Nonvested at beginning of period		157,616		$	17.00
Granted		30,183			15.91
Vested		(50,401	)		14.92
Forfeited		(6,467	)		16.97
Nonvested at end of period		130,931		$	17.55

Summary of Activity in Stock Options

A summary of the activity in stock options for the three months ended March 31, 2019 follows:

						Weighted
				Weighted		Average
				Average		Remaining
				Exercise		Contractual
	Shares			Price		Term (years)
Outstanding at beginning of period		507,903		$	8.66
Granted		—			—
Exercised		(182,002	)		6.48
Forfeited or expired		—			—
Outstanding at end of period		325,901		$	9.88		4.2
Fully vested and expected to vest		325,305		$	9.88		4.2
Exercisable at end of period		319,651		$	9.82		4.1

Information Related to Stock Options

Information related to stock options during each year follows:

	2019		2018
Intrinsic value of options exercised	$	1,733,087	$	897,541
Cash received from option exercises		1,179,923		949,500
Tax benefit realized from option exercises		15,411		234,617
Weighted average fair value of options granted		—		—