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Stock Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Compensation cost, net of forfeitures, related to stock-based compensation
The following table summarizes the compensation cost, net of forfeitures, related to stock-based compensation for the years ended December 31, 2014, 2013 and 2012:
 
 
2014
 
2013
 
2012
Stock and stock unit awards:
 
 
 
 
 
 
Pre-tax compensation expense
 
$
376

 
$
339

 
$
210

Income tax benefit
 
(132
)
 
(118
)
 
(73
)
Stock and stock unit awards expense, net of income taxes
 
$
244

 
$
221

 
$
137

Stock options:
 
 

 
 

 
 

Pre-tax compensation expense
 
$

 
$

 
$
17

Income tax benefit
 

 

 
(6
)
Stock options expense, net of income taxes
 
$

 
$

 
$
11

Total share-based compensation:
 
 

 
 

 
 

Pre-tax compensation expense
 
$
376

 
$
339

 
$
227

Income tax benefit
 
(132
)
 
(118
)
 
(79
)
Total share-based compensation expense, net of income taxes
 
$
244

 
$
221

 
$
148

Summary of option activity
A summary of option activity under the SI Plan and the 1997 Stock Incentive Plan as of December 31, 2014, 2013 and 2012, and changes during the years then ended is presented below:
 
 
2014
 
 
Shares
 
Weighted-Average
Exercise Price
 
Weighted-Average
Remaining
Contractual Term
 
Aggregate
Intrinsic Value
Outstanding, beginning of year
 
128,750
 
$26.20
 
 
 
 
Granted
 
0
 
0.00
 
 
 
 
Exercised
 
0
 
0.00
 
 
 
 
Forfeited or expired
 
76,750
 
27.25
 
 
 
 
Outstanding, end of year
 
52,000
 
$24.64
 
3.43
 
$

Exercisable, end of year
 
52,000
 
$24.64
 
3.43
 
$



There were no options exercised during 2014. Stock options for 52,000 shares of common stock were not considered in computing the aggregate intrinsic value of outstanding shares and exercisable shares for 2014 because they were anti-dilutive.

 
 
2013
 
 
Shares
 
Weighted-Average
Exercise Price
 
Weighted-Average
Remaining
Contractual Term
 
Aggregate
Intrinsic Value
Outstanding, beginning of year
 
176,625
 
$24.88
 
 
 
 
Granted
 
0
 
0.00
 
 
 
 
Exercised
 
39,373
 
20.67
 
 
 
 
Forfeited or expired
 
8,502
 
24.34
 
 
 
 
Outstanding, end of year
 
128,750
 
$26.20
 
2.42
 
$

Exercisable, end of year
 
128,750
 
$26.20
 
2.42
 
$



The total intrinsic value of options exercised during 2013 was $75,000. Stock options for 128,750 shares of common stock were not considered in computing the aggregate intrinsic value of outstanding shares and exercisable shares for 2013 because they were anti-dilutive.

 
 
2012
 
 
Shares
 
Weighted-Average
Exercise Price
 
Weighted-Average
Remaining
Contractual Term
 
Aggregate
Intrinsic Value
Outstanding, beginning of year
 
228,140
 
$23.09
 
 
 
 
Granted
 
0
 
0.00
 
 
 
 
Exercised
 
44,763
 
15.90
 
 
 
 
Forfeited or expired
 
6,752
 
24.00
 
 
 
 
Outstanding, end of year
 
176,625
 
$24.88
 
2.81
 
$
89,061

Exercisable, end of year
 
170,000
 
$24.95
 
2.69
 
$
89,061



The total intrinsic value of options exercised during 2012 was $332,000. Stock options for 108,125 shares of common stock were not considered in computing the aggregate intrinsic value of outstanding shares and exercisable shares for 2012 because they were anti-dilutive.
Unvested options
A summary of the status of the Company’s shares subject to unvested options under the SI Plan and the 1997 Stock Incentive Plan as of December 31, 2013 and 2012, and changes during the years then ended, is presented below. All options were vested as of December 31, 2013.
 
 
2013
 
2012
 
 
 
 
Shares
 
Weighted-Average Grant-Date
Fair Value
 
 
 
Shares
 
Weighted-Average Grant-Date
Fair Value
Unvested, beginning of year
 
6,625
 
$2.51
 
20,875
 
$3.16
Granted
 
0
 
$0.00
 
0
 
$0.00
Vested
 
(6,375)
 
$3.47
 
(14,250)
 
$3.47
Forfeited
 
250
 
$3.68
 
0
 
$0.00
Unvested, end of year
 
0
 
$0.00
 
6,625
 
$2.51
Stock options, by exercise price range
The following table summarizes information about stock options under the SI Plan outstanding at December 31, 2014:
 
 
 
 
Options Outstanding
 
Options Exercisable
Range of Exercise Prices
 
Number Outstanding
 
Weighted-Average Remaining Contractual Life
 
Weighted-Average Exercise Price
 
Number Exercisable
 
Weighted-Average Exercise Price
$22.50 to $24.50
 
24,500
 
3.96
 
$23.00
 
24,500
 
$23.00
$24.50 to $26.50
 
27,500
 
2.95
 
$26.10
 
27,500
 
$26.10
 
 
52,000
 
3.43
 
$24.64
 
52,000
 
$24.64
Schedule of Unvested Restricted Stock and Restricted Stock Units Roll Forward [Table Text Block]
The following table summarizes non-vested stock and stock unit activity for the years ended December 31, 2014, 2013 and 2012:

 
 
2014
 
2013
 
2012
 
 
Shares
 
Weighted-avg Grant-date Fair Value
 
Shares
 
Weighted-avg Grant-date Fair Value
 
Shares
 
Weighted-avg Grant-date Fair Value
Nonvested, beginning of year
 
24,799
 
$24.16
 
25,337
 
$22.16
 
15,096
 
$18.70
Granted
 
19,377
 
22.00
 
14,054
 
23.46
 
15,162
 
25.50
Vested
 
(14,499)
 
23.72
 
(14,592)
 
20.01
 
(4,179)
 
21.84
Forfeited
 
(2,780)
 
23.12
 
0
 
0.00
 
(742)
 
21.87
Nonvested, end of year
 
26,897
 
$22.95
 
24,799
 
$24.16
 
25,337
 
$22.16
Fair value of shares vested
 
 
 
$
343,910

 
 
 
$
329,721

 
 
 
$
91,259