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Share-Based Payments (Tables)
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation Arrangements by Share-based Payment Award The following is a summary of stock award activity for the six months ended June 30, 2022:
SharesWeighted Average
Grant-Date
Fair Value
Nonvested, January 1, 2022
138,093 $44.48 
Granted51,286 59.95 
Vested(47,828)45.25 
Forfeited— — 
Nonvested, June 30, 2022
141,551 $49.83 
The grant date fair value of stock performance awards granted during the six months ended June 30, 2022 and 2021 was determined using a Monte Carlo fair value simulation model incorporating the following assumptions:
20222021
Risk-free interest rate1.52 %0.18 %
Expected term (in years)3.003.00
Expected volatility32.00 %32.00 %
Dividend yield2.90 %3.60 %
The following is a summary of stock performance award activity for the six months ended June 30, 2022 (share amounts reflect awards at target):
 SharesWeighted Average
Grant-Date
Fair Value
Nonvested, January 1, 2022
189,600 $42.54 
Granted55,800 54.91 
Vested(55,600)43.30 
Forfeited— — 
Nonvested, June 30, 2022
189,800 $45.95