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Capital Purchase Program (Tables)
 12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Fair Value of Warrant

The assumptions used to calculate the fair value of the warrant are summarized below:

 

Assumption

    Value  

Contractual term

      10 years   

Exercise price

    $ 31.53   

Estimated fair value of company stock

    $ 29.14   

Expected life

      10 years   

Risk-free rate over expected life of the warrant

      2.36 % 

Expected volatility

      28.40 % 

Expected dividend yield

      3.85 %