Employee Benefit and Deferred Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2014

Compensation and Retirement Disclosure [Abstract]

Plan expense for non-contributory benefit pension plan and post-retirement health and life plans

The plan expense for the Company-sponsored noncontributory defined benefit pension plan (“Pension Benefits”) and post-retirement health and life plans (“Other Benefits”) for the periods presented was as follows:

	Pension Benefits						Other Benefits
	Three Months Ended						Three Months Ended
	September 30,						September 30,
	2014			2013			2014		2013
Service cost	$	—		$	—		$	1	$	8
Interest cost	328			222			19		21
Expected return on plan assets	(539		)	(359		)	—		—
Prior service cost recognized	—			—			—		—
Recognized actuarial loss	59			114			18		70
Net periodic benefit cost (return)	$	(152	)	$	(23	)	$	38	$	99

	Pension Benefits						Other Benefits
	Nine Months Ended						Nine Months Ended
	September 30,						September 30,
	2014			2013			2014		2013
Service cost	$	—		$	—		$	13	$	21
Interest cost	964			597			65		48
Expected return on plan assets	(1,617		)	(979		)	—		—
Prior service cost recognized	—			—			—		—
Recognized actuarial loss	150			313			72		125
Net periodic benefit cost (return)	$	(503	)	$	(69	)	$	150	$	194

Stock option grants assumptions

The Company employed the following assumptions with respect to its stock option grants in 2013:

	2013 Grant
Shares granted	52,500
Dividend yield	3.55		%
Expected volatility	37		%
Risk-free interest rate	0.76		%
Expected lives	6 years
Weighted average exercise price	$	19.14
Weighted average fair value	$	4.47

Schedule of other share-based compensation activity

The following table summarizes the changes in restricted stock as of and for the nine months ended September 30, 2014:

	Performance-Based Restricted Stock		Weighted Average Grant-Date Fair Value		Time- Based Restricted Stock		Weighted Average Grant-Date Fair Value
Nonvested at beginning of period	69,850		$	19.14	22,338		$	24.30
Awarded	78,250		31.46		34,336		30.26
Vested	(69,850	)	19.14		(6,338	)	22.09
Cancelled	—		—		—		—
Nonvested at end of period	78,250		$	31.46	50,336		$	28.64

The following table summarizes the changes in stock options as of and for the nine months ended September 30, 2014:

	Shares		Weighted Average Exercise Price
Options outstanding at beginning of period	1,060,350		$	18.64
Granted	—		—
Exercised	(183,082	)	17.37
Forfeited	(1,899	)	20.77
Options outstanding at end of period	875,369		$	18.90