Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2015
Shareholders' Equity [Abstract]  
Fair Value of Option Grants

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended

 

 

December 31,

 

 

2015

 

2014

Expected option term

 

 

4.0 to 6.5

 

 

 

6.5

 

Expected volatility factor

 

 

23.8% to 26.7%

 

 

 

27%

 

Risk-free rate

 

 

.90% to 1.28%

 

 

 

0.96%

 

Expected annual dividend yield

 

 

—%

 

 

 

—%

 

 

Stock Option Transactions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Weighted

 

average

 

 

 

 

 

 

 

Average

 

remaining

 

Aggregate

 

 

Number of

 

Exercise

 

contractual

 

Intrinsic

 

 

options

 

Price

 

term (in years)

 

Value

Outstanding at December 31, 2014

 

165,800 

 

$

5.58 

 

6.09 

 

$

305,124 

Granted

 

62,500 

 

 

6.36 

 

 

 

 

 

Exercised

 

(23,300)

 

 

3.44 

 

 

 

 

 

Forfeited

 

(19,500)

 

 

4.74 

 

 

 

 

 

Expired

 

(1,000)

 

 

3.67 

 

 

 

 

 

Outstanding at December 31, 2015

 

184,500 

 

 

6.21 

 

6.80 

 

$

235,293 

Exercisable at December 31, 2015

 

83,500 

 

$

6.60 

 

4.73 

 

$

106,565 

Exercisable at December 31, 2014

 

74,400 

 

$

6.07 

 

4.75 

 

$

119,342