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Equity Incentive Awards (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Restricted Stock Activities and Related Information | A summary of our restricted stock activities and related information, is as follows:
| Number of Shares |  | Weighted Average Grant Date Fair Value Per Share
Balance at December 31, 2021 | 314,907 |  |  | $53.98
Shares granted | 130,600 |  |  | $77.47
Shares forfeited/cancelled | (11,881) |  |  | $33.35
Shares vested | (167,244) |  |  | $48.99
Balance at December 31, 2022 | 266,382 |  |  | $69.24
Shares granted | 143,275 |  |  | $56.63
Shares forfeited/cancelled | — |  |  | $—
Shares vested | (228,478) |  |  | $72.25
Balance at December 31, 2023 | 181,179 |  |  | $55.84
Granted | 107,004 |  |  | $66.00
Forfeited/Cancelled | (9,780) |  |  | $69.95
Vested | (99,462) |  |  | $70.11
Balance at December 31, 2024 | 178,941 |  |  | $69.51
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of stock options granted was estimated on the grant date using the Black-Scholes-Merton model. The following table includes the assumptions made in the valuation:
| 2024 |  | 2023 |  |
Dividend Yield | 3.1% |  | 2.6% |  |
Risk-Free Interest Rate | 4.6% |  | 3.4% |  |
Expected Life | 5.8 years |  | 5.6 years |  |
Expected Volatility | 28.7% |  | 28.1% |  |
Weighted Average Grant Date Fair Value Per Share | $15.28 |  | $16.31 |  |
Summary of Stock Option Activity | A summary of our stock option activity and related information, is as follows:
| Shares Subject To Options |  | Weighted Average Exercise Price Per Share |  | Weighted Average Outstanding Contractual Life (in years) |  | Average Intrinsic Value (in millions)
Balance at December 31, 2021 | 73,775 |  |  | $52.52 |  | 6.9 |  | $2.6
Options issued | 7,210 |  |  | $79.72 |  |  |  |
Balance at December 31, 2022 | 80,985 |  |  | $54.94 |  | 6.2 |  | $1.0
Options issued | 8,450 |  |  | $68.01 |  |  |  |
Balance at December 31, 2023 | 89,435 |  |  | $56.18 |  | 5.6 |  | $1.4
Options issued | 29,855 |  |  | $60.29 |  |  |  |
Balance at December 31, 2024 | 119,290 |  |  | $57.21 |  | 5.8 |  | $1.3
Exercisable at December 31, 2024 | 90,993 |  |  | $56.04 |  | 4.7 |  | $1.1

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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