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Common stock (Tables)
12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Schedule of Stock Option Transactions and Number of Stock Options Outstanding

Stock option transactions and the number of stock options outstanding are summarized below:

 

     NUMBER OF
SHARES
    WEIGHTED
AVERAGE
EXERCISE PRICE
     WEIGHTED
AVERAGE
REMAINING
CONTRACTUAL
LIFE

(IN YEARS)
     AGGREGATE
INTRINSIC VALUE
 

Outstanding at December 31, 2014

     824,604      $ 6.79         7.16       $ 789   

Options granted

     294,250        11.51         

Options exercised

     (191,878     5.99         

Options forfeited

     (49,349     9.58         

Options expired

     (12,170     7.95         
  

 

 

   

 

 

    

 

 

    

 

 

 

Outstanding at December 31, 2015

     865,457      $ 9.75         7.56       $ 2,393   

Exercisable as of December 31, 2015

     418,064      $ 8.33         6.31       $ 1,748   
Schedule of Weighted Average Assumptions

The fair value of stock options granted is estimated using the Black-Scholes option pricing model with the following weighted average assumptions:

 

     DECEMBER 31,
2015
    DECEMBER 31,
2014
    DECEMBER 31,
2013
 

Expected volatility

     97     108     94

Expected dividends

     0     0     0

Expected terms (years)

     6.00        6.00        6.25   

Risk free rate

     1.48     1.67     2.11

Weighted average grant-date fair value of stock options

   $ 8.91      $ 8.19      $ 0.40