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Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option Assumptions
The following weighted average assumptions were used to determine the fair value of the stock options granted on the original grant date for expense recognition purposes for options granted during the three months ended March 31, 2020 and 2019 using a Black Scholes-Merton Model:
 Three months ended
 March 31, 2020March 31, 2019
Directors and Officers:  
Expected dividend rate$0.32$0.32
Expected volatility31.08%29.54%
Risk-free interest rate0.70%2.40%
Expected life (in years)5.05.0
Employees:  
Expected dividend rate$0.32$0.32
Expected volatility31.07%29.54%
Risk-free interest rate0.71%2.40%
Expected life (in years)5.05.0
Summary of Stock Options Outstanding
The following is a summary of stock options vested and exercisable as of March 31, 2020:
 
Range of
Exercise
Prices		Number
of
Shares		Weighted
Average
Remaining
Contractual Life
(in years)		Weighted
Average
Exercise
Price
Intrinsic
Value
(in thousands)
$7.18  -$36.95  677,936  6.09$28.34  $13,542  
$37.00  -$40.87  6,418  7.9538.20  65  
$41.37  -$57.14  339,922  8.8441.38  2,361  
Total1,024,276  7.01$32.73  $15,968  
 
The following is a summary of stock options vested and exercisable as of March 31, 2019:

Range of
Exercise
Prices		Number
of
Shares		Weighted
Average
Remaining
Contractual Life
(in years)		Weighted
Average
Exercise
Price
Intrinsic
Value
(in thousands)
$6.13  -$33.20  496,465  6.11$22.56  $11,727  
$33.40  -$40.87  187,024  8.2835.53  1,991  
$41.37  -$46.18  —  —  —  —  
Total683,489  6.70$26.11  $13,718  
Summary of Stock Option Activity
A summary of stock option activity under the plans is as follows:
Stock OptionsSharesWeighted
Average
Exercise
Price
Outstanding at December 31, 2019
3,627,047  $36.32  
Granted
939,600  44.32  
Exercised
(154,335) 29.13  
Forfeited or Expired
(38,316) 38.86  
Outstanding at March 31, 2020
4,373,996  $38.27  
Exercisable at March 31, 2020
1,024,276  $32.73  
Summary of Unvested Restricted Stock Awards
A summary of the unvested restricted stock awards is as follows:
 
Restricted StockSharesWeighted
Average
Grant Date
Fair Value
Unvested at December 31, 2019
267,484  $34.42  
Granted
58,840  42.65  
Vested
(62,292) 30.71  
Forfeited
(1,120) 35.88  
Unvested at March 31, 2020
262,912  $37.13  
Summary of Share-Based Compensation Expense
A summary of share-based compensation is as follows: 
Three months ended
 March 31,
2020		March 31,
2019
Grant date fair value of awards during the period:(in thousands)
Options$10,905  $19,944  
Restricted stock2,510  3,708  
Total$13,415  $23,652  
Share-based compensation expense:
Options$1,632  $4,622  
Restricted stock719  785  
Total$2,351  $5,407  
Income tax benefit/(deficiency) related to share-based compensation:
Options$731  $243  
Restricted stock334  151  
Total$1,065  $394