Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Total
Balance at Dec. 31, 2014 $ 223 $ 138,268 $ 40,826 $ (6,028) $ 173,289
Balance (in shares) at Dec. 31, 2014 22,282,628        
Increase (Decrease) in Stockholders' Equity          
Net income     44,176   44,176
Dividends paid     (20,173)   (20,173)
Adjustment for pension and postretirement benefit liability, net of tax of ($140) in 2017, $147 in 2016 and ($495) in 2015       782 782
Adjustment for interest rate swap, net of tax of $88 in 2017, $225 in 2016 and $564 in 2015       (937) (937)
Shares withheld on restricted stock vesting   (27)     (27)
Shares issued from exercise of stock options   111     111
Shares issued from exercise of stock options (in shares) 26,350        
Stock based compensation $ 1 3,274     3,275
Stock based compensation (in shares) 78,819        
Balance at Dec. 31, 2015 $ 224 141,626 64,829 (6,183) 200,496
Balance (in shares) at Dec. 31, 2015 22,387,797        
Increase (Decrease) in Stockholders' Equity          
Net income     39,009   39,009
Dividends paid     (21,451)   (21,451)
Adjustment for pension and postretirement benefit liability, net of tax of ($140) in 2017, $147 in 2016 and ($495) in 2015       (231) (231)
Adjustment for interest rate swap, net of tax of $88 in 2017, $225 in 2016 and $564 in 2015       (258) (258)
Stock based compensation $ 1 2,897     2,898
Stock based compensation (in shares) 113,843        
Balance at Dec. 31, 2016 $ 225 144,523 82,387 (6,672) 220,463
Balance (in shares) at Dec. 31, 2016 22,501,640        
Increase (Decrease) in Stockholders' Equity          
Net income     55,324   55,324
Dividends paid     (21,974)   (21,974)
Prior period adjustment   187     187
Adjustment for pension and postretirement benefit liability, net of tax of ($140) in 2017, $147 in 2016 and ($495) in 2015       233 233
Adjustment for interest rate swap, net of tax of $88 in 2017, $225 in 2016 and $564 in 2015       (133) (133)
Shares withheld on restricted stock vesting   (923)     (923)
Stock based compensation $ 1 3,500     3,501
Stock based compensation (in shares) 89,257        
Balance at Dec. 31, 2017 $ 226 $ 147,287 $ 115,737 $ (6,572) $ 256,678
Balance (in shares) at Dec. 31, 2017 22,590,897