Share-Based Compensation (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2015 and 2014 using a Black Scholes Model:



	Nine months ended
	September 30, 2015			September 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		$	0.25
Expected volatility	44.13		%	45.56		%
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 September 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	261,442	4.11	$	5.93	$	3,516
$7.44-$8.17	17,550	5.84	7.72		205
$8.65-$23.57	176,895	6.71	9.04		1,830
Total	455,887	5.18	$	7.20	$	5,551

The following is a summary of stock options vested and exercisable as of September 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	459,684	3.48	$	5.10	$	5,492
$7.13-$8.17	82,450	6.81	7.26		804
$8.65-$21.14	192,627	6.36	8.76		1,590
Total	734,761	4.61	$	6.30	$	7,886

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	(411,905	)	6.41
Forfeited or Expired	(28,705	)	13.63
Outstanding at September 30, 2015	857,145		$	9.89
Exercisable at September 30, 2015	455,887		$	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	127,038		22.18
Vested	(84,563	)	14.68
Forfeited	(22,614	)	18.48
Unvested at September 30, 2015	434,707		$	18.66

Summary of Grant Date Fair Value of Awards During Period

A summary of share-based compensation is as follows:



	Three months ended				Nine months ended
	September 30, 2015		September 30, 2014		September 30, 2015		September 30, 2014
Grant date fair value of awards during the period:	(in thousands)
Options	$	—	$	119	$	657	$	307
Restricted stock	262		343		2,818		3,378
Total	$	262	$	462	$	3,475	$	3,685

Summary of Share-Based Compensation Expense



Share-based compensation expense:
Options	$	203	$	181	$	601	$	701
Restricted stock	592		413		1,475		877
Total	$	795	$	594	$	2,076	$	1,578

Summary of Income Tax Benefit Related to Share-Based Compensation



Income tax benefit related to share-based compensation:
Options	$	(123	)	$	188	$	2,113	$	672
Restricted stock	(112		)	40		104		236
Total	$	(235	)	$	228	$	2,217	$	908