Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following weighted average assumptions were used to determine the fair value of the stock options granted on the original grant date for expense recognition purposes for options granted during the six months ended June 30, 2015 and 2014 using a Black Scholes Model:



	Six months ended
	June 30, 2015			June 30, 2014
Director and Officers:
Expected dividend rate	$	0.18		N/A
Expected volatility	44.14		%	N/A
Risk-free interest rate	1.97		%	N/A
Expected life (in years)	8			N/A

Employees:
Expected dividend rate	$	0.18		$	0.16
Expected volatility	44.14		%	45.77		%
Risk-free interest rate	2.05		%	2.40		%
Expected life (in years)	8			8

Summary of Stock Options Outstanding

The following is a summary of stock options vested and exercisable as of June 30, 2015:



Range of Exercise Prices	Number of Shares	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Intrinsic Value (in thousands)
$4.31-$7.18	221,842	4.08	$	5.74	$	3,722
$7.44-$8.17	15,300	5.94	7.65		227
$8.65-$23.57	181,970	6.85	8.94		2,472
Total	419,112	5.35	$	7.20	$	6,421

The following is a summary of stock options vested and exercisable as of June 30, 2014:



Range of Exercise Prices	Number of Shares	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Intrinsic Value (in thousands)
$3.21-$6.89	472,028	3.62	$	5.04	$	8,171
$7.13-$8.17	56,175	6.92	7.25		848
$8.65-$19.27	196,298	6.79	8.76		2,668
Total	724,501	4.73	$	6.22	$	11,687

Summary of Stock Option Activity

A summary of option activity under the plans is as follows:



Options	Shares		Weighted Average Exercise Price
Outstanding at December 31, 2014	1,235,150		$	8.16
Granted	62,605		22.93
Exercised	(398,805	)	6.35
Forfeited or Expired	(17,260	)	11.82
Outstanding at June 30, 2015	881,690		$	9.95
Exercisable at June 30, 2015	419,112		$	7.20

Summary of Unvested Restricted Stock Awards

A summary of the unvested restricted stock awards is as follows:




Restricted stock	Shares		Weighted Average Grant Date Fair Value
Unvested at December 31, 2014	414,846		$	16.76
Granted	114,538		22.32
Vested	(70,459	)	15.32
Forfeited	(15,512	)	18.54
Unvested at June 30, 2015	443,413		$	18.36

Summary of Grant Date Fair Value of Awards During Period

A summary of share-based compensation is as follows:



	Three months ended				Six months ended
	June 30, 2015		June 30, 2014		June 30, 2015		June 30, 2014
Grant date fair value of awards during the period:	(in thousands)
Options	$	—	$	68	$	657	$	188
Restricted stock	834		2,765		2,556		3,035
Total	$	834	$	2,833	$	3,213	$	3,223

Summary of Share-Based Compensation Expense



Share-based compensation expense:
Options	$	246	$	312	$	398	$	520
Restricted stock	597		260		883		464
Total	$	843	$	572	$	1,281	$	984

Summary of Income Tax Benefit Related to Share-Based Compensation



Income tax benefit related to share-based compensation:
Options	$	1,160	$	160	$	2,236	$	484
Restricted stock	194		164		216		196
Total	$	1,354	$	324	$	2,452	$	680