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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Key Assumptions Used to Apply the Black-Scholes Option Pricing Model

Key assumptions used to apply the Black-Scholes option pricing model are set forth below:

 

 

 

2015

 

 

2014

 

Average risk-free interest rate

 

 

1.64

%

 

 

1.17

%

Expected life of option grants

 

5.0 years

 

 

5.0 years

 

Expected volatility of underlying stock

 

 

72.55

%

 

 

99.00

%

Expected dividend payment rate, as a percentage of the share

   price on the date of grant

 

 

0.89

%

 

 

0.82

%

Weighted average grant date fair value

 

$

10.20

 

 

$

13.80

 

 

Summary of Stock Option Activity

The following table summarizes the stock option activity under the Company’s plan:

 

 

 

 

 

 

 

Weighted Average

 

 

 

Number

 

 

Exercise

 

 

Fair

 

 

 

Of Options

 

 

Price

 

 

Value

 

Outstanding and exercisable at December 31, 2013

 

 

67,082

 

 

$

14.26

 

 

 

 

 

Granted

 

 

8,240

 

 

 

19.55

 

 

$

13.80

 

Exercised

 

 

(6,709

)

 

 

12.72

 

 

 

 

 

Expired

 

 

(5,328

)

 

 

14.37

 

 

 

 

 

Outstanding and exercisable at December 31, 2014

 

 

63,285

 

 

$

15.12

 

 

 

 

 

Granted

 

 

8,300

 

 

 

18.06

 

 

$

10.20

 

Exercised

 

 

(1,119

)

 

 

14.11

 

 

 

 

 

Expired

 

 

(5,029

)

 

 

14.43

 

 

 

 

 

Outstanding and exercisable at December 31, 2015

 

 

65,437

 

 

$

15.55