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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Assumptions Used For Options Granted

 

 

 

 

 

 

 

 

    

2015

 

2014

Dividend yield

 

 —

%

 

 —

%

Expected life

 

4

years  

 

6

years

Expected volatility

 

22.8

%

 

27.2

%

Risk-free interest rate

 

1.44

%

 

1.91

%

 

Changes In the Company's Stock Options Outstanding

The following tables summarize changes in the Company's stock options outstanding for the year ended December 31, 2015 and 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

 

    

Weighted

    

 

    

 

 

  

 

 

 

 

Average

 

Weighted Average

 

Aggregate

 

 

 

Stock Options

 

Exercise

 

Remaining

 

Intrinsic

 

 

 

Outstanding

 

Price

 

Contractual Life

 

Value

 

Outstanding, January 1, 2015

 

743,015

 

$

4.99

 

6.85

 years  

$

 —

 

Granted

 

30,000

 

 

5.26

 

 

 

 

 

 

Exercised

 

(202,651)

 

 

4.50

 

 

 

$

113,218

 

Forfeited or expired

 

(74,532)

 

 

5.21

 

 

 

 

 

 

Outstanding, December 31, 2015

 

495,832

 

$

5.17

 

6.32

 years  

$

146,453

 

Exercisable, December 31, 2015

 

407,686

 

$

5.17

 

5.89

 years  

$

145,313

 

Weighted average fair value of options granted during the year

 

 

 

$

1.08

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

Average

 

Weighted Average

 

Aggregate

 

 

 

Stock Options

 

Exercise

 

Remaining

 

Intrinsic

 

 

 

Outstanding

 

Price

 

Contractual Life

 

Value

 

Outstanding, January 1, 2014

 

608,905

 

$

5.23

 

7.11

 years  

$

175,426

 

Granted

 

187,000

 

 

4.97

 

 

 

 

 —

 

Forfeited or expired

 

(52,890)

 

 

7.72

 

 

 

 

(175,426)

 

Outstanding, December 31, 2014

 

743,015

 

$

4.99

 

6.85

 years  

$

 —

 

Exercisable at December 31, 2014

 

557,224

 

$

4.94

 

6.43

 years  

$

 —

 

Weighted average fair value of options granted during the year

 

 

 

$

1.60

 

 

 

 

 

 

 

Activity In Restricted Stock

A summary of the activity for the Company’s non-vested restricted stock for the period indicated is presented in the following table:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

2014

 

 

    

 

    

Weighted-

    

 

    

Weighted-

 

 

 

 

 

Average Fair

 

 

 

Average Fair

 

 

 

Shares 

 

Value

 

Shares 

 

Value

 

Non-vested restricted stock at January 1,

 

16,256

 

$

4.92

 

15,488

 

$

5.17

 

Granted

 

15,296

 

 

5.23

 

16,256

 

 

4.92

 

Vested

 

(16,256)

 

 

4.92

 

(15,488)

 

 

5.17

 

Non-vested restricted stock at December 31, 

 

15,296

 

$

5.23

 

16,256

 

$

4.92

 

 

Non-Vested [Member]  
Changes In the Company's Stock Options Outstanding

The summary of the activity for the Company’s non-vested options for the years ended December 31, 2015 and 2014 is presented in the following table:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

2014

 

 

    

 

    

Weighted-

    

 

    

Weighted-

 

 

 

 

 

Average Grant-

 

 

 

Average Grant-

 

 

 

Shares

 

Date Fair Value

 

Shares

 

Date Fair Value

 

Non-vested options at January 1,

 

145,791

 

$

2.05

 

231,650

 

$

2.30

 

Granted

 

30,000

 

 

1.08

 

187,000

 

 

1.47

 

Vested

 

(69,707)

 

 

1.41

 

(232,859)

 

 

1.88

 

Cancelled, forfeited or expired

 

(17,939)

 

 

1.85

 

(40,000)

 

 

1.85

 

Non-vested options at December 31, 

 

88,145

 

$

1.73

 

145,791

 

$

2.05