Stock Option Plan and Stock Based Compensation (Tables)

12 Months Ended

Feb. 28, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Option Activity

The Company had the following stock option activity for the three years ended February 28, 2018:

						Weighted
				Weighted		Average		Aggregate
	Number			Average		Remaining		Intrinsic
	of Shares			Exercise		Contractual		Value(a)
	(exact quantity)			Price		Life(inyears)		(inthousands)
Outstanding at March 1, 2015		374,823		$	15.95		5.7	$	210
Granted		43,426			13.69
Terminated		(47,300	)		18.31
Exercised		—			—
Outstanding at February 29, 2016		370,949		$	15.38		5.9	$	1,616
Granted		—			—
Terminated		(5,000	)		8.94
Exercised		(193,453	)		15.04
Outstanding at February 28, 2017		172,496		$	15.95		4.2	$	223
Granted		—			—
Terminated		—			—
Exercised		—			—
Outstanding at February 28, 2018		172,496		$	15.95		3.2	$	612
Exercisable at February 28, 2018		170,880		$	15.97		3.2	$	602

(a) Intrinsic value is measured as the excess fair market value of the Company’s Common Stock as reported on the New York Stock Exchange over the applicable exercise price.

Summary of Assumptions Used and Weighted Average Grant-Date Fair Value of Stock Options Granted

The following is a summary of the assumptions used and the weighted average grant-date fair value of the stock options granted during fiscal year 2016:

	2016
Expected volatility		24.06	%
Expected term (years)	3
Risk free interest rate		0.89	%
Dividend yield		4.92	%
Weighted average grant-date fair value	$	2.24

Summary of Stock Options Exercised and Tax Benefits Realized from Stock Based Compensation

A summary of the stock options exercised and tax benefits realized from stock based compensation is presented below for the three fiscal years ended (in thousands):

	Fiscal years ended
	2018		2017		2016
Total cash received	$	—	$	2,910	$	—
Income tax benefits		—		265		(46	)
Total grant-date fair value		—		532		—
Intrinsic value		—		969		—

Summary of Unvested Stock Options

A summary of the status of the Company’s unvested stock options at February 28, 2017, and changes during the fiscal year ended February 28, 2018 is presented below:

				Weighted
				Average
	Number			Grant Date
	of Options			Fair Value
Unvested at March 1, 2017		5,073		$	2.41
New grants		—			—
Vested		(3,457	)		2.48
Forfeited		—			—
Unvested at February 28, 2018		1,616		$	2.24

Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding at the end of fiscal year 2018:

	Options Outstanding						Options Exercisable
			Weighted Average		Weighted				Weighted
	Number		Remaining Contractual		Average		Number		Average
Exercise Prices	Outstanding		Life (in Years)		Exercise Price		Exercisable		Exercise Price
$8.94 to $13.69		24,848		2.3	$	9.87		23,232	$	9.60
$14.05 to $15.78		51,956		4.6		15.16		51,956		15.16
$17.57 to $18.46		95,692		2.7		17.97		95,692		17.97
		172,496		3.2		15.95		170,880		15.97

Restricted Stock Grants Activity

The Company had the following restricted stock grants activity for each of the three fiscal years ended February 28, 2018:

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Outstanding at March 1, 2015		153,648		$	15.30
Granted		113,648			13.69
Terminated		—			—
Vested		(77,900	)		15.24
Outstanding at February 29, 2016		189,396		$	14.36
Granted		66,685			19.49
Terminated		—			—
Vested		(89,535	)		14.46
Outstanding at February 28, 2017		166,546		$	16.35
Granted		74,900			16.30
Terminated		—			—
Vested		(88,771	)		15.90
Outstanding at February 28, 2018		152,675		$	16.59