Significant Accounting Policies (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2016 and 2015:

	For the three months ended September 30,			For the nine months ended September 30,
	2016		2015	2016		2015
Number of options exercised	4,620		578	24,998		578
Total intrinsic value of options exercised	$	21,760	1,302	$	138,722	1,302
Cash received from options exercised	29,820		—	134,458		—
Tax deduction realized from options	8,888		520	56,679		520

Summary of Nonvested Restricted Stock Activity

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

	Shares		Average grant date fair value
Nonvested restricted stock at December 31, 2015	88,880		$	7.63
Granted	34,216		10.24
Cancelled	(2,200	)	4.86
Vested	(16,444	)	7.42
Nonvested restricted stock at September 30, 2016	104,452		$	8.56

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 nine months ended September 30,2016 and 2015:

	For the three months ended September 30,				For the nine months ended September 30,
(In thousands)	2016		2015		2016		2015
Service cost	$	15	$	15	$	46	$	44
Interest cost	9		9		28		26
Amortization of prior service cost	22		21		63		62
Net periodic benefit cost	$	46	$	45	$	137	$	132

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 nine months endedSeptember 30, 2016 and 2015:

	For the nine months ended September 30,
(In thousands)	2016		2015
Benefit obligation, beginning of year	$	923	$	—
Initial recognition of prior service cost	—		830
Service cost	46		44
Interest cost	28		26
Actuarial gain (loss)	—		—
Benefit obligation, end of period	$	997	$	900

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 nine months endedSeptember 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	522,338		$	6.45	5.1	$	2,561,095
Options granted	97,900		10.06
Options exercised	(24,998	)	5.38
Options forfeited	(1,833	)	7.00
Options expired	(4,275	)	7.64
Outstanding at September 30, 2016	589,132		$	7.08	5.2	$	3,378,979
Exercisable at September 30, 2016	423,582		$	6.18	3.7	$	2,813,837

Stock Options, Valuation Assumptions

The fair values of the options granted during the three and nine months ended September 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 September 30,						For the nine months ended September 30,
	2016			2015			2016			2015
Number of options granted	—			—			97,900			44,000
Weighted average exercise price	$	—		$	—		$	10.06		$	8.30
Weighted average fair value of options	$	—		$	—		$	3.19		$	3.47
Expected life in years (1)	0			0			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 September 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	110,000	2.4	$	3.57	110,000	$	3.57
	4.01 - 8.00	267,549	4.7	6.27		251,597	6.21
	8.01 - 12.00	211,583	7.2	9.94		61,985	10.66
	Total	589,132	5.2	$	7.08	423,582	$	6.18

Allocation of Share-based Compensation Costs

	For the three months ended September 30,				For the nine months ended September 30,
	2016		2015		2016		2015
Compensation expense	$	46,268	$	39,489	$	160,016	$	108,479
Income tax benefit	18,901		15,772		65,367		43,326

Restricted Stock

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

Restricted Stock Grants

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

	For the three months ended September 30,				For the nine months ended September 30,
	2016		2015		2016		2015
Number of shares granted	831		2,200		34,216		40,480
Average grant date fair value	$	12.04	$	8.92	$	10.24	$	8.46

Allocation of Share-based Compensation Costs

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

	For the three months ended September 30,				For the nine months ended September 30,
	2016		2015		2016		2015
Compensation expense	$	100,645	$	76,950	$	257,873	$	234,460
Income tax benefit	41,113		30,734		105,344		93,643