Stock Compensation (Tables)

12 Months Ended

Dec. 31, 2016

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 2016, 2015, and 2014:

Year	Options		Exercise Price
2016		271,350	$	11.62
2015		208,200	$	18.67
2014		209,500	$	20.93

Options exercised in 2016, 2015, and 2014:

Year	Options		Exercise Price
2016		334,836	$9.00 to $14.77
2015		239,508	$9.97 to $17.02
2014		228,064	$9.97 to $17.02

Options outstanding and exercisable at December 31, 2016, 2015, and 2014 were as follows:

Year	Outstanding		Range of Exercise Prices	Exercisable		Weighted Average Exercise Price
2016		1,183,830	$9.97 to $20.93		934,898	$	14.88
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

The following table provides a summary of stock option activity for the period ended December 31, 2016:

	Shares			Average Exercise Price		Weighted Average Life (in Years)
Outstanding at December 31, 2015		1,409,881		$	14.12
Options granted		271,350			11.62
Options exercised		(334,836	)		9.66
Canceled or forfeited		(70,965	)		15.37
Expired		(91,600	)		17.05
Outstanding at December 31, 2016		1,183,830			14.50		6.20
Exercisable at December 31, 2016		934,898		$	14.88		5.47

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 2016, 2015 and 2014, the Company used the binomial lattice option pricing model based on assumptions set forth in the following table.

	2016			2015			2014
Risk free interest rate		1.80	%		2.10	%		2.80	%
Expected dividend yield		4.60	%		2.90	%		2.50	%
Expected life of award (years)	8.00				8.00			7.00
Expected volatility		50.00	%		50.00	%		50.00	%
Fair value per option	$	3.45		$	6.03		$	7.05

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, 2016:

	Shares			Average Grant-Date Fair Value
Unvested shares at December 31, 2015		229,390
Granted		247,594		$	11.85
Vested		(115,241	)		16.19
Forfeited		(30,333	)		14.69
Unvested shares at December 31, 2016		331,410