Stock-Based Compensation

3 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Employee Benefit Plans

Stock-Based Compensation

Certain officers and directors of the Company participate in incentive and non-qualified stock option plans. Options are granted at exercise prices not less than the fair value of the Company’s common stock on the date of the grant. The following is a summary of the activity under the Company’s stock option plans for the periods presented:

	Three Months Ended March 31,
	2017		2016
	Shares	Weighted Average Exercise Price	Shares		Weighted Average Exercise Price
Balance, Beginning of Period	21,500	$23.57	29,500		$23.55
Options Granted	—	—	—		—
Options Exercised	—	—	—		—
Options Forfeited	—	—	(3,500	)	23.91
Balance, End of Period	21,500	$23.57	26,000		$23.50
Options Exercisable	20,600		20,600
Options Available For Grant	50,000		50,000

5. Stock-Based Compensation, Continued

At March 31, 2017, the Company had the following options outstanding:

Grant Date	Outstanding Options	Option Price	Expiration Date
05/24/07	2,000	$24.34	05/24/17
07/09/07	1,000	$24.61	07/09/17
10/01/07	2,000	$24.28	10/01/17
01/01/08	12,000	$23.49	01/01/18
05/19/08	2,500	$22.91	05/19/18
07/01/08	2,000	$22.91	07/01/18

None of the options outstanding at March 31, 2017 or 2016 had an exercise price below the average market price during the three month periods ended March 31, 2017 or 2016. Therefore, these options were not deemed to be dilutive to EPS in those periods.