Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Summary of Stock Based Compensation Activity

A summary of activity during the years ended December 31, 2014, 2013, and 2012 is presented below:

Market Condition Non-Vested Restricted Shares	Shares			Wtd. Avg. Fair Value Per Share
Outstanding at December 31, 2011		9,317		$	23.13
Granted		—			—
Vested		—			—
Forfeited/Expired		(1,417	)		23.13
Outstanding at December 31, 2012		7,900			23.13
Granted		—			—
Vested		—			—
Forfeited/Expired		(2,833	)		23.13
Outstanding at December 31, 2013		5,067			23.13
Granted		—			—
Vested		—			—
Forfeited/Expired		—			—
Outstanding at December 31, 2014		5,067		$	23.13

Summary of Market Condition Inducement Grant of Restricted Shares

A summary of the activity for these awards during the years ended December 31, 2014, 2013, and 2012 is presented below:

Market Condition Non-Vested Restricted Shares	Shares			Wtd. Avg. Fair Value Per Share
Outstanding at December 31, 2011		96,000		$	18.47
Granted		17,000			18.02
Vested		—			—
Forfeited/Expired		—			—
Outstanding at December 31, 2012		113,000			18.40
Granted		—			—
Vested		(18,500	)		23.89
Forfeited/Expired		—			—
Outstanding at December 31, 2013		94,500			17.33
Granted		2,500			38.97
Vested		(56,500	)		19.56
Forfeited/Expired		—			—
Outstanding at December 31, 2014		40,500		$	15.55

Summary of Stock Based Compensation Activity for Non-Qualified Stock Option Award

A summary of the activity for these awards during the years ended December 31, 2014, 2013, and 2012, is presented below:

Non-Qualified Stock Option Awards	Shares			Wtd. Avg. Fair Value Per Share		Wtd. Avg. Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2011		50,000		$	28.90
Granted		10,000			29.34
Exercised		—			—
Forfeited/Expired		—			—
Outstanding at December 31, 2012		60,000			28.97
Granted		51,000			34.95
Exercised		(16,500	)		28.90
Forfeited/Expired		—			—
Outstanding at December 31, 2013		94,500			32.21
Granted		10,000			50.00
Exercised		(19,735	)		31.88
Forfeited/Expired		—			—
Outstanding at December 31, 2014		84,765		$	34.39		5.33	$	1,815,125
Exercisable at December 31, 2013		19,800		$	28.97		7.70	$	144,870
Exercisable at December 31, 2014		37,195		$	30.13		6.04	$	954,717

Summary of Share Option Activity of Stock Option and Stock Appreciation Rights Under 2001 Plan

A summary of share option activity under the 2001 Plan during the years ended December 31, 2014, 2013, and 2012 is presented below:

Stock Options

Liability-Classified Stock Options	Shares			Wtd. Avg. Fair Value Per Share		Wtd. Avg. Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2011		205,800		$	53.12
Granted		—			—
Exercised		(5,600	)		20.12
Forfeited/Expired		(119,400	)		55.13
Outstanding at December 31, 2012		80,800			52.43
Granted		—			—
Exercised		(11,600	)		30.39
Forfeited/Expired		(15,400	)		63.58
Outstanding at December 31, 2013		53,800			53.99
Granted		—			—
Exercised		(18,500	)		37.80
Forfeited/Expired		—			—
Outstanding at December 31, 2014		35,300		$	62.47		2.46	$	102,022
Exercisable at December 31, 2013		53,800		$	53.99		3.80	$	46,950
Exercisable at December 31, 2014		35,300		$	62.47		2.46	$	102,022

Assumptions Used in Determining Fair Value of Stock Options and Stock Appreciation Rights

Following are assumptions used in determining the fair value of stock options and stock appreciation rights:

Assumptions at December 31,	2014			2013			2012
Expected Volatility		34.07	%		23.07	%		24.34	%
Expected Dividends		0.07	%		0.11	%		0.13	%
Expected Term		2 years			3 years			3 years
Risk-Free Rate		0.78	%		1.21	%		0.39	%

Recognized Financial Statements for Stock Options, Stock Appreciation Rights, and Restricted Stock

Amounts recognized in the financial statements for stock options, stock appreciation rights, and restricted stock are as follows:

	Year Ended December 31,
	2014			2013			2012
Total Cost of Share-Based Plans Charged Against
Income Before Tax Effect	$	1,271,924		$	901,447		$	1,047,335
Income Tax Expense)
Recognized in Income	$	(490,645	)	$	(347,733	)	$	(404,010	)

Non-Qualified Stock Option Award [Member]

Summary of Non-Vested Options for Liability-Classified Stock Options and Stock Appreciation Rights

A summary of the non-vested options for these awards during the years ended December 31, 2014, 2013, and 2012, is presented below:

Non-Qualified Stock Option Awards	Shares			Fair Value of Shares Vested
Non-Vested at December 31, 2011		50,000
Granted		10,000
Vested		(16,666	)	$	481,647
Non-Vested at December 31, 2012		43,334
Granted		51,000
Vested		(19,634	)	$	568,875
Non-Vested at December 31, 2013		74,700
Granted		10,000
Vested		(37,130	)	$	1,176,331
Non-Vested at December 31, 2014		47,570

Stock Option and Stock Appreciation Rights [Member]

Summary of Non-Vested Options for Liability-Classified Stock Options and Stock Appreciation Rights

A summary of the non-vested options for these awards during the years ended December 31, 2014, 2013, and 2012, is presented below:

Liability-Classified Stock Options and Stock Appreciation Rights	Shares			Fair Value of Shares Vested
Non-Vested at December 31, 2011		42,160
Vested		(10,120	)	$	23,962
Forfeited/Expired		(29,400	)
Non-Vested at December 31, 2012		2,640
Vested		(2,640	)	$	20,038
Forfeited/Expired		—
Non-Vested at December 31, 2013		—
Vested		—		$	—
Forfeited/Expired		—
Non-Vested at December 31, 2014		—

Three Year Vest Non Vested Restricted Stock [Member]

Summary of Stock Based Compensation Activity

A summary of activity for these awards during the year ended December 31, 2014, is presented below:

Three Year Vest Non-Vested Restricted Shares	Shares			Wtd. Avg. Fair Value Per Share
Outstanding at December 31, 2013		—		$	—
Granted		14,500			36.08
Vested		—			—
Forfeited/Expired		(300	)		36.08
Outstanding at December 31, 2014		14,200		$	36.08