XML 48 R32.htm IDEA: XBRL DOCUMENT v2.4.1.9
Stock Option Plans (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity

   2014  2013
           
Options outstanding at the beginning of the year   1,236,063    1,118,688 
Options granted   214,500    220,500 
Options forfeited   (2,500)   (27,475)
Options exercised   (90,250)   (75,650)
Options outstanding at the end of the year   1,357,813    1,236,063 
Options exercisable at the end of the year   880,743    771,208 
Common stock available for future grants at the end of the year   36,475    38,975 
Weighted average exercise price per share:     
 Granted  $16.68   $13.38 
    Forfeited   14.22    12.17 
 Exercised   12.62    6.89 
 Outstanding   12.35    11.61 
 Exercisable   11.53    11.64 
Summary of Options Outstanding

     Options Outstanding    Options Exercisable 
 Range of Exercise Prices    Number Outstanding    Weighted-
Average Remaining Contractual Life (Years)
   Weighted-
Average Exercise Price
    Number Exercisable   Weighted-
Average Exercise Price
 
 $6.81 to $10.25    500,188    6   $9.44    430,243   $9.37 
 $10.26 to $13.62    302,875    6    11.70    211,625    11.97 
 $13.63 to $15.33    309,750    5    14.38    188,375    14.72 
 $15.34 to $17.03    245,000    8    16.56    50,500    16.14 
      1,357,813              880,743      

 

Assumptions Used to Value Option Grants

    2014 2013
Expected life in years   5 5
Interest rate   1.53 – 1.77% 0.70 – 1.45%
Volatility   .245-.282 .317-.328
Dividend yield   2.0% 2.10% - 2.70%