Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2018

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



	Six months ended June 30,
	2018				2017
	Options		Weighted-Average Exercise Price		Options		Weighted-Average Exercise Price
Outstanding at January 1	87,605		$	47.15	86,613		$	41.08
Granted	—		—		17,631		66.32
Exercised	(25,147	)	38.51		(16,639	)	35.91
Outstanding at June 30	62,458		$	50.62	87,605		$	47.15

Exerciseable at June 30	7,183		$	44.32	7,887		$	37.37

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,
	2018		2017
Proceeds from stock option exercises	$	968	$	597
Intrinsic value of stock options exercised	824		481

Stock-based compensation expense associated with stock options	$	95	$	125

At period-end:	June 30, 2018
Unrecognized stock-based compensation expense associated with stock options	$	287
Weighted average period (in years) in which the above amount is expected to be
recognized	2.3

Stock Options Outstanding And Exercisable

Additional information regarding stock options outstanding and exercisable at June 30, 2018 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)
$30.00 - $34.99	500	$	30.38	0.4	$	22	500	$	30.38	0.4	$	22
35.00 - 39.99	38	37.74		4.7	1		38	37.74		4.7	1
40.00 - 44.99	32,684	43.91		7.2	1,024		3,683	44.43		5.7	113
45.00 - 49.99	11,605	46.61		6.7	332		2,962	46.61		6.7	85
65.00 - 70.00	17,631	66.32		8.7	157		—	—		—	—
	62,458				$	1,536	7,183				$	221

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,
	2017
Risk-free interest rate	2.12	%
Expected dividend yield	2.60	%
Volatility factor	25.80	%
Expected life of option	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,
	2018				2017
	Restricted Awards		Average Market Price at Grant		Restricted Awards		Average Market Price at Grant
Outstanding at January 1	170,033		$	44.34	182,122		$	39.40
Granted	28,363		70.03		26,539		64.50
Forfeited	—		—		(1,850	)	42.25
Vested	(47,104	)	37.45		(36,778	)	35.08
Outstanding at June 30	151,292		$	51.30	170,033		$	44.22

Information regarding stock-based compensation associated with restricted shares is provided in the following table (in thousands):



	Six months ended June 30,
	2018		2017
Stock-based compensation expense associated with restricted shares	$	787	$	725

At period-end:	June 30, 2018
Unrecognized stock-based compensation expense associated with restricted shares	$	4,417
Weighted average period (in years) in which the above amount is expected to be
recognized	3.5

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,
	2018			2017			2018			2017
Components of net periodic cost:
Interest cost	$	147		$	193		$	295		$	386
Expected return on plan assets	(270		)	(294		)	(540		)	(589		)
Net amortization and deferral	218			215			436			425
Settlement	151			—			151			—
Net Periodic Pension Cost	$	246		$	114		$	342		$	222

401(k) Plan expense	$	210		$	196		$	428		$	447

Defined Benefit Plan contributions	$	—		$	—		$	—		$	—