Issuance of Common Stock

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Issuance of Common Stock

Issuance of Common Stock

On June 10, 2015, the Corporation sold 350,000 shares of common stock, par value $1.25 per share, in a private offering to accredited individual and institutional investors at $23.50 per share. The Corporation realized $8.2 million in proceeds from the offering, net of $63,000 of direct costs relating to the offering.