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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Summary of Awards
The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value:
 
 
Year Ended December 31,
Restricted Shares and Performance-Based Shares
 
2019
 
2018
 
2017
Expected quarterly dividends per share
 
$
0.2900

 
$
0.2650

 
$
0.2425

Risk-free interest rate
 
2.47
%
 
2.38
%
 
1.50
%
 
 
 
 
 
 
 
Market-Based Shares
 
 
 
 
 
 
Dividend yield
 
2.59
%
 
2.96
%
 
2.67
%
Expected volatility
 
19.55
%
 
19.12
%
 
20.80
%
Risk-free interest rate
 
2.51
%
 
2.36
%
 
1.54
%
The following table summarizes activity in restricted stock awards, including performance-based and market-based shares, and stock options:
 
 
Restricted Stock
 
Stock Options
 
 
Shares
 
Weighted-Average Grant Date Fair Value
 
Shares
 
Weighted
Average
Exercise
Price
Outstanding at December 31, 2018
 
166,651

 
$
32.93

 
81,000

 
$
11.94

Granted
 
134,573

 
37.92

 
—

 
—

Exercised
 
(138,001
)
 
31.44

 
(79,000
)
 
11.93

Forfeited
 
(1,681
)
 
39.61

 
—

 
—

Expired
 
—

 
—

 
—

 
—

Outstanding at December 31, 2019
 
161,542

 
$
38.21

 
2,000

 
$
12.22


The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares, and stock options:
 
 
Year Ended December 31,
Restricted Stock
 
2019
 
2018
 
2017
Weighted-average grant date fair value
 
$
37.92

 
$
29.65

 
$
23.06

Total fair value of restricted shares that vested (in thousands)
 
$
6,246

 
$
8,558

 
$
5,747

 
 
 
 
 
 
 
Stock Options
 
 
 
 
 
 
Total intrinsic value of options exercised (in thousands)
 
$
2,617

 
$
3,117

 
$
2,234