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Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2018
Stock Based Compensation [Abstract]  
Schedule Of Share-based Compensation, Stock Options, Activity





 

 

 

 

 

 

 

(Dollars in thousands except share and per share data)

 

 

 

 

 

 

 



ESPP

 

Weighted Average

 

Aggregate 



Options

 

Price Per Share

 

Intrinsic Value

Balance Outstanding at December 31, 2015

22,286 

 

$

23.42 

 

$

Granted

24,434 

 

 

22.46 

 

 

 

Exercised

(907)

 

 

22.66 

 

 

 

Expired

(23,055)

 

 

23.38 

 

 

 

Balance Outstanding at December 31, 2016

22,758 

 

$

22.46 

 

$

140 

Granted

19,086 

 

 

29.95 

 

 

 

Exercised

(6,827)

 

 

23.00 

 

 

 

Expired

(17,180)

 

 

22.79 

 

 

 

Balance Outstanding at December 31, 2017

17,837 

 

$

29.95 

 

$

132 

Granted

19,790 

 

 

32.73 

 

 

 

Exercised

(3,257)

 

 

30.54 

 

 

 

Expired

(15,992)

 

 

30.07 

 

 

 

Balance Outstanding at December 31, 2018

18,378 

 

$

32.73 

 

$

 —



 

 

 

 

 

 

 

Shares available for future grants at December 31, 2018

196,284 

 

 

 

 

 

 







 

 

 

 

 

 

 



ISOP

 

Weighted Average

 

Aggregate 



Options

 

Price Per Share

 

Intrinsic Value

Balance Outstanding at December 31, 2015

53,075 

 

$

22.56 

 

$

50 

Granted

24,450 

 

 

21.27 

 

 

 

Exercised

(3,800)

 

 

16.00 

 

 

 

Forfeited

(15,000)

 

 

24.14 

 

 

 

Balance Outstanding at December 31, 2016

58,725 

 

$

22.03 

 

$

386 

Granted

33,450 

 

 

30.00 

 

 

 

Exercised

(750)

 

 

23.77 

 

 

 

Forfeited

(6,200)

 

 

27.37 

 

 

 

Balance Outstanding at December 31, 2017

85,225 

 

$

24.75 

 

$

1,075 

Granted

34,054 

 

 

34.10 

 

 

 

Exercised

(12,268)

 

 

21.55 

 

 

 

Forfeited

(3,000)

 

 

23.77 

 

 

 

Balance Outstanding at December 31, 2018

104,011 

 

$

28.22 

 

$

341 



 

 

 

 

 

 

 

Shares available for future grants at December 31, 2018

259,123 

 

 

 

 

 

 



Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding And Exercisable



 

 

 

 

 

 

 

 

 

 

 

 

Options

 

 

 

 

 

 

 

Weighted



 

Outstanding

 

 

Exercise Price or

 

Weighted Average

 

Average Remaining

Stock Option Plan

 

and Exercisable

 

 

Price Range

 

Exercise Price

 

Life (years)

Employee Stock Purchase Plan

 

18,378 

 

$

32.73 

 

$

32.73 

 

0.5



 

 

 

 

 

 

 

 

 

 

Incentive Stock Option Plan

 

3,107 

 

 

16.11 

 

 

16.11 

 

0.2

Incentive Stock Option Plan

 

33,400 

 

 

21.27 - 22.05

 

 

21.56 

 

6.8

Incentive Stock Option Plan

 

67,504 

 

 

30.00 - 34.10

 

 

32.07 

 

8.7

ISOP Total/Average

 

104,011 

 

 

 

 

$

28.22 

 

7.8



Valuation Assumptions Using Black-Scholes Method



 

 

 

 

 

 

 

 

 



 

2018

 

2017

 

2016

Incentive Stock Option Plan

 

 

 

 

 

 

 

 

 

Options granted

 

 

34,054 

 

 

33,450 

 

 

24,450 

Risk-free interest rate

 

 

2.66% 

 

 

1.87% 

 

 

1.22% 

Expected volatility of the Corporation's stock

 

 

19.51% 

 

 

23.12% 

 

 

25.76% 

Expected dividend yield

 

 

2.49% 

 

 

2.94% 

 

 

3.23% 

Expected life (in years)

 

 

5.25 

 

 

5.25 

 

 

5.25 

Weighted average fair value of options granted

 

$

5.42 

 

$

4.81 

 

$

3.58 



 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Compensation expense included in net income

 

 

 

 

 

 

 

 

 

ESPP

 

$

 —

 

$

 —

 

$

 —

ISOP

 

 

185 

 

 

161 

 

 

88 

Total compensation expense included in net income

 

$

185 

 

$

161 

 

$

88