Stock-Based Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016
Outstanding at December 31, 2015	668,667		$	18.88
Granted	160,312		19.73
Expired	—		—
Forfeited	(62,537	)	18.93
Exercised	(261,534	)	19.04
Outstanding at December 31, 2016	504,908		19.06		6.2	$	5,979
Exercisable at December 31, 2016	195,968		19.24		3.2	2,285

Summary of Nonvested Stock Options

The following is a summary of nonvested stock options at December 31, 2016 including changes during the year:

(Dollars in thousands, except per share data)	Nonvested Stock Options		Weighted Average Grant Date Fair Value
Nonvested stock options at December 31, 2015	299,665		$	5.91
Granted	160,312		6.23
Vested	(88,500	)	5.47
Forfeited	(62,537	)	6.16
Nonvested stock options at December 31, 2016	308,940		6.15

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,
	2016						2015			2014
	Range			Weighted Average			Actual			Actual
Expected option life in years	7.6	-	8.2	7.9			8.0			8.2
Risk free interest rate	1.38%	-	1.89%	1.87		%	1.64		%	2.51		%
Expected dividend yield	3.80%	-	4.19%	4.06		%	4.32		%	4.26		%
Expected volatility	37.71%	-	46.22%	45.82		%	49.38		%	50.16		%
Fair value of options	$5.40	-	$6.27	$	6.23		$	6.07		$	6.53

Summary of Nonvested Restricted Stock Awards

ollowing is a summary of nonvested restricted stock awards at December 31, 2016 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, 2015	183,584		$	18.00
Granted	176,255		20.60
Vested	(51,272	)	17.31
Forfeited	(23,409	)	17.86
Nonvested share awards at December 31, 2016	285,158		19.74

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,
	2016		2015		2014
Shares granted	176,255		65,755		74,304
Weighted average grant date fair value	$	20.60	$	18.62	$	18.63
Intrinsic value of awards vested	$	1,000	$	749	$	735

Schedule of Unrecognized Compensation Cost, Nonvested Awards

The total unrecognized compensation expense and the weighted average period over which unrecognized compensation expense is expected to be recognized related to nonvested stock options and nonvested restricted stock awards at December 31, 2016 is presented below:

(Dollars in thousands)	Unrecognized Compensation Cost		Weighted-Average Period Remaining (Years)
Stock options	$	1,020	1.9
Restricted stock awards	3,155		1.7
	$	4,175	1.8

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)	2016		2015		2014
Stock-based compensation expense:
Stock options	$	577	$	528	$	463
Restricted stock awards	1,507		893		679
Employee stock purchase plan	67		53		46
Total	$	2,151	$	1,474	$	1,188
Tax benefit on nonqualified stock option expense, restricted stock awards and disqualifying dispositions of incentive stock options	$	836	$	339	$	244