Stock Options and Other Equity-Based Incentive Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Option Activity

Stock option activity is summarized in the following table for the dates indicated:

						Weighted
						Average
	Number			Option Price		Exercise
	of Shares			per Share		Price
Outstanding at December 31, 2015		948,350		$	12.63 to $25.91	$	17.94
Options granted		—			—    to    —		—
Options exercised		(336,900	)	$	14.54 to $25.91	$	19.31
Options forfeited		(19,200	)	$	14.76 to $23.21	$	19.14
Outstanding at December 31, 2016		592,250		$	12.63 to $23.21	$	17.12

Summary of Options Outstanding

The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of December 31, 2016:

	Currently		Currently Not		Total
	Exercisable		Exercisable		Outstanding
Number of options		520,650		71,600		592,250
Weighted average exercise price	$	16.91	$	18.64	$	17.12
Intrinsic value (in thousands)	$	8,991	$	1,112	$	10,103
Weighted average remaining contractual term (yrs.)		4.1		6.3		4.3

Information about Options

The following table shows the total intrinsic value of options exercised, the total fair value of options vested, total compensation costs for options recognized in income, and total tax benefit recognized in income related to compensation costs for options during the periods indicated:

	Years Ended December 31,
	2016		2015		2014
Intrinsic value of options exercised	$	3,483,000	$	969,000	$	1,209,000
Fair value of options that vested	$	580,000	$	734,000	$	965,000
Total compensation costs for options recognized in income	$	580,000	$	734,000	$	965,000
Total tax benefit recognized in income related to compensation costs for options	$	244,000	$	380,000	$	378,000
Weighted average fair value of grants (per option)		n/a		n/a	$	8.17

Weighted-Average Assumptions Used to Determine Fair Value of Options Granted

The weighted-average assumptions used to determine the fair value of options granted are detailed in the table below:

	Year Ended December 31,
	2016		2015		2014
Assumptions used to value option grants:
Average expected terms (years)		n/a		n/a		6.3
Volatility		n/a		n/a		42.1	%
Annual rate of dividends		n/a		n/a		1.90	%
Discount rate		n/a		n/a		1.69	%

Restricted Stock Unit (RSU) Activity

Restricted stock unit (RSU) activity is summarized in the following table for the dates indicated:

	Service Condition Vesting RSUs					Market Plus Service Condition Vesting RSUs
	Number of RSUs			Weighted Average Fair Value on Date of Grant		Number of RSUs			Weighted Average Fair Value on Date of Grant
Outstanding at December 31, 2015		46,286					32,097
RSUs granted		47,020		$	28.01		19,402		$	24.41
RSUs added through dividend credits		1,292					—
RSUs released		(20,529	)				—
RSUs forfeited/expired		(5,619	)				(4,073	)
Outstanding at December 31, 2016		68,450					47,426

Summary of Compensation Costs for RSUs

The following table shows the compensation costs for RSUs recognized in income for the periods indicated:

	Year Ended December 31,
	2016		2015		2014
Total compensation costs for RSUs recognized in income:
Service condition vesting RSUs	$	616,000	$	458,000	$	126,000
Market plus service condition vesting RSUs	$	271,000	$	179,000	$	42,000