Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2016

A summary of the Company’s stock option activity and related information is presented below:



	Six months ended June 30,
	2016				2015
	Options		Weighted-Average Exercise Price		Options		Weighted-Average Exercise Price
Outstanding at January 1	95,015		$	38.38	167,554		$	36.74
Granted	24,348		43.73		12,961		46.41
Exercised	(20,250	)	33.68		(29,250	)	34.30
Forfeited	—		—		(4,000	)	31.66
Outstanding at June 30	99,113		$	40.68	147,265		$	38.24

Exerciseable at June 30	15,500		$	36.23	72,000		$	37.01

Information regarding stock option exercises and stock-based compensation expense associated with stock options is provided in the following table (in thousands):



	Six months ended June 30,
	2016		2015
Proceeds from stock option exercises	$	682	$	1,003
Intrinsic value of stock options exercised	302		322

Stock-based compensation expense associated with stock options	$	120	$	105

At period-end:	June 30, 2016
Unrecognized stock-based compensation expense associated with stock options	$	500
Weighted average period (in years) in which the above amount is expected to be
recognized	2.7

Stock Options Outstanding And Exercisable

Additional information regarding stock options outstanding and exercisable at June 30, 2016, is provided in the following table:



Ranges of Exercise Prices	No. of Options Outstanding	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (in thousands)		No. of Options Currently Exercisable	Weighted-Average Exercise Price of Options Currently Exercisable		Weighted-Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value of Options Currently Exercisable (in thousands)
$25.00 - $29.99	1,250	$	28.15	2.7	$	22	1,250	$	28.15	2.7	$	22
30.00 - 34.99	3,000	30.38		2.4	45		3,000	30.38		2.4	45
35.00 - 39.99	36,601	36.35		6.0	334		4,250	35.09		4.8	44
40.00 - 44.99	45,301	43.51		7.9	89		7,000	40.88		1.8	32
45.00 - 50.00	12,961	46.61		8.7	—		—	—		—	—
	99,113				$	490	15,500				$	143

Weighted Average Assumptions Estimate The Fair Value Of Options Granted

The following weighted average assumptions were used to estimate the fair value of options granted:



	Six months ended June 30,
	2016		2015
Risk-free interest rate	1.43	%	1.95	%
Expected dividend yield	3.86	%	3.50	%
Volatility factor	30.76	%	45.40	%
Expected life of option	7.0 years		7.0 years

Restricted Shares Activity And Related Information

A summary of the Company’s restricted shares activity and related information is presented below:



	Six months ended June 30,
	2016				2015
	Restricted Awards		Average Market Price at Grant		Restricted Awards		Average Market Price at Grant
Outstanding at January 1	172,921		$	37.38	163,431		$	35.50
Granted	27,451		45.99		25,440		46.35
Forfeited	—		—		(500	)	37.50
Vested	(21,700	)	33.89		(16,550	)	33.51
Outstanding at June 30	178,672		$	39.13	171,821		$	37.29

Information regarding stock-based compensation associated with restricted shares during the three months ended June 30, 2016 and 2015 is provided in the following table (in thousands):



	Six months ended June 30,
	2016		2015
Stock-based compensation expense associated with restricted shares	$	661	$	567

At period-end:	June 30, 2016
Unrecognized stock-based compensation expense associated with restricted shares	$	3,498
Weighted average period (in years) in which the above amount is expected to be
recognized	3.3

Net Periodic Pension Cost Of The Defined Benefit Plan

The following table presents details of the Company's activities pursuant to these plans (in thousands):



	Three months ended June 30,						Six months ended June 30,
	2016			2015			2016			2015
Components of net periodic cost:
Interest cost	$	205		$	203		$	410		$	465
Expected return on plan assets	(288		)	(234		)	(577		)	(523		)
Net amortization and deferral	212			244			424			471
Net Periodic Pension Cost	$	129		$	213		$	257		$	413

401(k) Plan expense	$	201		$	182		$	418		$	411

Defined benefit plan contributions	$	—		$	85		$	—		$	170