Stock-Based Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Status of Options Granted Under Long-Term Incentive Plan

The following table is a summary of the status of options under the Corporation’s long-term incentive plans:

(Dollars in thousands, except per share data)	Shares Under Option		Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value at December 31, 2014
Outstanding at December 31, 2013	612,050		$	19.41
Granted	114,000		18.78
Expired	—		—
Forfeited	(35,500	)	17.06
Exercised	(17,334	)	17.92
Outstanding at December 31, 2014	673,216		19.46		5.2	$	1,201
Exercisable at December 31, 2014	393,662		21.07		3.1	351

Aggregated Assumptions Used to Estimate Fair Value of Options Granted

The following aggregated assumptions were used to estimate the fair value of options granted for the periods indicated:

	For the Years Ended December 31,
	2014			2013			2012
Expected option life in years	8.2			8.9			8.2
Risk free interest rate	2.51		%	1.99		%	1.63		%
Expected dividend yield	4.26		%	4.74		%	5.40		%
Expected volatility	50.16		%	49.30		%	50.74		%
Fair value of options	$	6.53		$	5.32		$	4.37

Summary of Nonvested Restricted Stock Awards

Following is a summary of nonvested restricted stock awards at December 31, 2014 including changes during the year:

(Dollars in thousands, except per share data)	Nonvested Share Awards		Weighted Average Grant Date Fair Value
Nonvested share awards at December 31, 2013	185,423		$	16.40
Granted	74,304		18.63
Vested	(39,297	)	17.24
Forfeited	(43,452	)	16.91
Nonvested share awards at December 31, 2014	176,978		17.02

Certain Information Regarding Restricted Stock

The fair value of restricted stock is equivalent to the fair value on the date of grant and is amortized over the vesting period. Certain information regarding restricted stock is summarized below for the periods indicated:

(Dollars in thousands, except per share data)	For the Years Ended December 31,
	2014		2013		2012
Shares granted	74,304		70,041		71,157
Weighted average grant date fair value	$	18.63	$	16.76	$	15.29
Intrinsic value of awards vested	$	735	$	505	$	625

Compensation Expense Related to Stock Incentive Plans Recognized

The following table presents information related to the Corporation’s compensation expense related to stock incentive plans recognized for the periods indicated:

	For the Years Ended December 31,
(Dollars in thousands)	2014		2013		2012
Stock-based compensation expense:
Stock options	$	463	$	517	$	408
Restricted stock awards	679		461		859
Employee stock purchase plan	46		38		36
Total	$	1,188	$	1,016	$	1,303
Tax benefit on nonqualified stock option expense, restricted stock awards and disqualifying dispositions of incentive stock options	$	244	$	162	$	296