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Stock Options (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Status of Plans

Following is a summary of the status of the stock options remaining under the plans for the years ending December 31, 2015, 2014 and 2013:

 

     Directors’ Plan      Employees’ Plan  
     Number
of

Shares
    Weighted
Average
Exercise
Price
     Number
of
Shares
    Weighted
Average
Exercise
Price
 

Outstanding at January 1, 2013

     111,000      $ 20.97         108,000      $ 20.90   

Granted

     —          —           —          —     

Exercised

     (3,000     16.40         (7,000     14.91   

Expired

     (4,500     16.40         (19,000     18.11   
  

 

 

   

 

 

    

 

 

   

 

 

 

Outstanding at December 31, 2013

     103,500      $ 20.97         82,000      $ 20.90   

Granted

     —          —           —          —     

Exercised

     —          —           —          —     

Expired

     (7,500     22.25         (35,500     21.95   
  

 

 

   

 

 

    

 

 

   

 

 

 

Outstanding at December 31, 2014

     96,000      $ 21.30         46,500      $ 22.06   

Granted

     —          —           —          —     

Exercised

     —          —           (1,500     18.00   

Expired

     (9,000     20.00         (2,200     21.05   
  

 

 

   

 

 

    

 

 

   

 

 

 

Outstanding at December 31, 2015

     87,000      $ 21.35         23,000      $ 23.46   
  

 

 

   

 

 

    

 

 

   

 

 

 

Options exercisable at:

         

December 31, 2015

     87,000      $ 21.35         23,000      $ 23.46   
  

 

 

   

 

 

    

 

 

   

 

 

 

Weighted average fair value of Options granted during years ended

         

December 31, 2013

       $—             $—     

December 31, 2014

       $—             $—     

December 31, 2015

       $—             $—     
Outstanding Stock Options Granted in Relation to Option Price and Weighted Average Maturity

The following table presents the outstanding stock options granted in relation to the option price and the weighted average maturity.

 

     Options      Weighted      Weighted Average

Range of Exercise Prices

   Outstanding      Average Price      Life Remaining

$15.01 to $20.00

     25,500         18.40       4 years, 5 months

$20.01 to $22.50

     39,000         21.23       3 years, 1 month

$22.51 and above

     45,500         24.18       1 years, 6 months
  

 

 

    

 

 

    

 

Total

     110,000       $ 21.79       2 years, 9 months