Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2016

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

Schedule of Cash Proceeds Received from Share-based Payment Awards

Upon exercise, the Company issues shares from its authorized but unissued common stock to satisfy the options. The following table presents information about options exercised during the three and six months ended June 30, 2016 and 2015:

	For the three months ended June 30,			For the six months ended June 30,
	2016		2015	2016		2015
Number of options exercised	18,525		—	18,525		—
Total intrinsic value of options exercised	$	116,992	—	$	116,992	—
Cash received from options exercised	—		—	—		—
Tax deduction realized from options	—		—	—		—

Summary of Nonvested Restricted Stock Activity

The following table summarizes nonvested restricted stock activity for the six months ended June 30,2016:

	Shares		Average grant date fair value
Nonvested restricted stock at December 31, 2015	80,800		$	8.50
Granted	30,350		11.21
Cancelled	(2,000	)	5.35
Vested	(14,950	)	8.26
Nonvested restricted stock at June 30, 2016	94,200		$	9.48

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

The following table summarizes the components of the net periodic pension cost of the defined benefit plan recognized during the three and six months ended June 30, 2016:

(In thousands)	For the three months ended June 30, 2016		For the six months ended June 30, 2016
Service cost	$	16	$	31
Interest cost	9		19
Amortization of prior service cost	21		41
Net periodic benefit cost	$	46	$	91

Summary Of Changes In Benefit Obligations Of Defined Benefit Plan

The following table summarizes the changes in benefit obligations of the defined benefit plan during the six months endedJune 30, 2016:

(In thousands)	For the six months ended June 30, 2016
Benefit obligation, beginning of year	$	923
Service cost	31
Interest cost	19
Actuarial gain (loss)	—
Benefit obligation, end of period	$	973

Stock Options

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

Transactions Under the Company’s Stock Option Plans

Transactions under the Company’s stock option plans for the six months endedJune 30, 2016 are summarized in the following table:

	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	(18,525	)	5.65
Options forfeited	—		—
Options expired	—		—
Outstanding at June 30, 2016	545,871		$	7.79	5.4	$	2,685,821
Exercisable at June 30, 2016	392,042		$	6.81	3.9	$	2,312,616

Stock Options, Valuation Assumptions

The fair values of the options granted during the three and six months ended June 30, 2016 and 2015 were estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

	For the three months ended June 30,						For the six months ended June 30,
	2016			2015			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)	0.00			0.00			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

The following table summarizes information about stock options outstanding and exercisable at June 30, 2016:

		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	87,000	2.7	$	3.85	87,000	$	3.85
	4.01 - 8.00	265,425	4.9	6.79		247,593	6.71
	8.01 - 12.00	102,551	9.1	9.71		15,554	9.32
	12.01 - 16.00	90,895	5.4	12.32		41,895	12.62
	Total	545,871	5.4	$	7.79	392,042	$	6.81

Allocation of Share-based Compensation Costs

	For the three months ended June 30,				For the six months ended June 30,
	2016		2015		2016		2015
Compensation expense	$	57,765	$	39,072	$	113,748	$	68,990
Income tax benefit	23,684		15,605		46,466		27,555

Restricted Stock

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

Restricted Stock Grants

Restricted stock awards granted during the three and six months ended June 30, 2016 and 2015 were as follows:

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

Allocation of Share-based Compensation Costs

Compensation expense related to restricted stock for the three and six months ended June 30, 2016 and 2015 is detailed in the following table:

	For the three months ended June 30,				For the six months ended June 30,
	2016		2015		2016		2015
Compensation expense	$	81,110	$	79,961	$	157,229	$	157,510
Income tax benefit	32,545		31,937		64,230		62,909