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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Assumptions Used in Black Scholes Model
The following summarizes the assumptions used in the Black-Scholes model for those options granted in 2014 and 2013:
 
2014
 
2013
 
Risk-free interest rate
2.41
%
 
1.25
%
 
Expected price volatility
45.05
%
 
45.68
%
 
Dividend yield
2.73
%
 
2.96
%
 
Forfeiture rate
5.46
%
 
4.73
%
 
Weighted-average expected life, until exercise
7.74

years
7.27

years
Components of Share Based Compensation Awards
The following table summarizes the components of the Corporation's share-based compensation awards recorded as expense:

Year Ended
December 31,
 
Year Ended
December 31,
 
Year Ended
December 31,
 
2015
 
2014
 
2013
Stock and ESPP Options
 

 

 
Pre-tax compensation expense
$
101


$
237


$
253

Income tax expense (benefit)
4


(47
)

(16
)
Stock and ESPP option expense, net of income taxes
$
105


$
190


$
237

Restricted Stock Awards
 

 

 
Pre-tax compensation expense
$
2,169


$
1,940


$
1,520

Income tax benefit
(749
)

(679
)

(531
)
Restricted stock awards expense, net of income taxes
$
1,420


$
1,261


$
989

Total Share-Based Compensation:
 

 

 
Pre-tax compensation expense
$
2,270


$
2,177


$
1,773

Income tax benefit
(745
)

(726
)

(547
)
Total share-based compensation expense, net of income taxes
$
1,525


$
1,451


$
1,226
Stock Option Activity Under Stock Option Plans
Stock option activity under the Corporation's stock option plans, as of December 31, 2015, and changes during the year ended December 31, 2015, were as follows:
 
Number of
Shares

Weighted-Average
Exercise Price

Weighted Average
Remaining Contractual
Term (in Years)

Aggregate
Intrinsic Value
Outstanding at January 1, 2015
737,931


$
20.99


 

 
Exercised
(96,066
)

$
15.21





Canceled
(199,853
)

$
25.99


 

 
Outstanding December 31, 2015
442,012


$
19.99


3.11

$
2,599,319

Vested and Expected to Vest at December 31, 2015
442,012


$
19.99


3.11

$
2,599,319

Exercisable at December 31, 2015
442,012


$
19.99


3.11

$
2,599,319
Summary of Unvested RSAs Outstanding
The following table summarizes information on unvested RSAs outstanding as of December 31, 2015:
 
Number of
Shares

Weighted-Average
Grant Date Fair Value
Unvested RSAs at January 1, 2015
385,450


$
15.65

Granted
125,050


$
23.48

Forfeited
(6,419
)

$
17.99

Vested
(149,577
)

$
11.88

Unvested RSAs at December 31, 2015
354,504


$
19.65