Stock Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of stock option activity for the period

The following tables summarize stock option activity in the past three years:

Options granted in 2015, 2014 and 2013:

Year	Options		Exercise Price
2015		208,200	$	18.67
2014		209,500	$	20.93
2013		323,400	$	14.77

Options exercised in 2015, 2014 and 2013:

Year	Options		Exercise Price
2015		239,508	$9.97 to $17.02
2014		228,064	$9.97 to $17.02
2013		503,321	$8.00 to $18.62

Options outstanding and exercisable at December 31, 2015, 2014 and 2013 were as follows:

Year	Outstanding		Range of Exercise Prices	Exercisable		WeightedAverage Exercise Price
2015		1,409,881	$9.00 to $20.93		1,231,544	$	13.47
2014		1,512,756	$9.00 to $20.93		1,066,219	$	11.58
2013		1,574,572	$9.00 to $18.62		1,057,694	$	11.48

The following table provides a summary of stock option activity for the period ended December 31, 2015:

	Shares			Average Exercise Price		Weighted Average Life	Aggregate Intrinsic Value
Outstanding at December 31, 2014		1,512,756		$	13.24
Options Granted		208,200			18.67
Options Exercised		(239,508	)		11.57
Canceled or forfeited		(71,567	)		17.30
Outstanding at December 31, 2015		1,409,881			14.12	5.47	$	1,904
Exercisable at December 31, 2015		1,231,544		$	13.47	5.02	$	1,904

Fair Value of stock options granted assumptions used

The expected volatility is derived from historical volatility of the Company’s shares and those of similar companies measured against the market as a whole. In 2015, 2014 and 2013, the Company used the binomial lattice option pricing model based on assumptions set forth in the following table.

	2015			2014			2013
Risk free interest rate		2.10	%		2.80	%		1.86	%
Expected dividend yield		2.90	%		2.50	%		2.40	%
Expected life of award (years)		8.0			7.0			7.0
Expected volatility		50.00	%		50.00	%		50.00	%
Fair value per option share	$	6.03		$	7.05		$	5.39

Summary of combined restricted stock units and restricted stock activity for the period

The following table provides a summary of combined restricted stock units and restricted stock activity for the year ended December 31, 2015:

	Shares			Average Grant-Date Fair Value
Unvested shares at December 31, 2014		236,196
Granted		224,994		$	16.65
Vested		(209,002	)		16.55
Forfeited		(22,798	)		18.63
Unvested shares at December 31, 2015		229,390		$	16.68