Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2016

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Nonvested Restricted Stock Activity

	Shares		Average grant date fair value
Nonvested restricted stock at December 31, 2015		80,800	$	8.50
Granted		30,350		11.21
Cancelled		(500)		-
Vested		(14,700)		8.25
Nonvested restricted stock at March 31, 2016		95,950	$	9.35

Summary of Components of Net Periodic Pension Cost of Defined Benefit Plan Recognized

(In thousands)	For the three months ended March 31, 2016
Service cost	$	15
Interest cost		10
Amortization of prior service cost		20
Net periodic benefit cost	$	45

Summary Of Changes In Benefit Obligations Of Defined Benefit Plan

(In thousands)	For the three months ended March 31, 2016
Benefit obligation, beginning of year	$	923
Service cost		15
Interest cost		10
Actuarial gain (loss)		-
Benefit obligation, end of period	$	948

Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Transactions under the Company’s stock option plans

	Shares		Weighted average exercise price		Weighted average remaining contractual life in years		Aggregate intrinsic value
Outstanding at December 31, 2015		475,396	$	7.09		5.1	$	2,562,175
Options granted		89,000		11.06
Options exercised		-		-
Options forfeited		-		-
Options expired		-		-
Outstanding at March 31, 2016		564,396	$	7.72		5.6	$	2,146,524
Exercisable at March 31, 2016		410,234	$	6.76		4.2	$	1,944,498

Stock Options, Valuation Assumptions

	For the three months ended March 31,
	2016			2015
Number of options granted		89,000			40,000
Weighted average exercise price	$	11.06		$	9.12
Weighted average fair value of options	$	3.50		$	3.82
Expected life in years (1)		6.85			6.69
Expected volatility (2)		31.91	%		46.76	%
Risk-free interest rate (3)		1.79	%		1.80	%
Dividend yield (4)		1.44	%		1.33	%

(1) The expected life of the options was estimated based on historical employee behavior and represents the period of time that options granted are expected to be outstanding.

(2) The expected volatility of the Company’s stock price was based on the historical volatility over the period commensurate with the expected life of the options. 

(3) The risk-free interest rate is the U.S. Treasury rate commensurate with the expected life of the options on the date of grant.

(4) The expected dividend yield is the projected annual yield based on the grant date stock price.

Schedule of Stock Options, by Exercise Price Range

		Options outstanding						Options exercisable
Range of exercise prices		Options outstanding		Weighted average remaining contractual life (in years)		Weighted average exercise price		Options exercisable		Weighted average exercise price
$	0.00 - 4.00		89,000		3.0	$	3.85		89,000	$	3.85
	4.01 - 8.00		281,950		5.1		6.73		263,785		6.66
	8.01 - 12.00		102,551		9.4		9.71		15,554		9.32
	12.01 - 16.00		90,895		5.6		12.32		41,895		12.62
	Total		564,396		5.6	$	7.72		410,234	$	6.76

Allocation of Share-based Compensation Costs

	For the three months ended March 31,
	2016		2015
Compensation expense	$	55,983	$	29,918
Income tax benefit		22,869		11,949

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Allocation of Share-based Compensation Costs

	For the three months ended March 31,
	2016		2015
Compensation expense	$	76,118	$	77,549
Income tax benefit		31,097		30,973

Restricted Stock Grants

	For the three months ended March 31,
	2016		2015
Number of shares granted		30,350		34,800
Average grant date fair value	$	11.21	$	9.27