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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Estimated Fair Value of Stock Options
The fair value of each stock option granted in
2018
,
2017
and
2016
, was estimated on the date of grant using the following weighted-average assumptions.
 
 
 
For the Year Ended December 31,
 
 
 
2018
 
 
2017
 
 
2016
 
Dividend yield
 
 
2.4%
 
 
 
2.2%
 
 
 
2.9%
 
Volatility
 
 
25.4%
 
 
 
29.6%
 
 
 
33.1%
 
Risk-free interest rate
 
 
2.9%
 
 
 
1.8%
 
 
 
1.2%
 
Expected life
 
 
5.4 years
 
 
 
5.6 years
 
 
 
5.6 years
 
Weighted average grant date fair value
 
$
5.08
 
 
$
5.17
 
 
$
3.96
 
Option Activity under Company's Stock Option Plans
The following table presents option activity under the Company’s stock option plans as of and for the year ended December 31, 2018.
 
 
 
Number of 

Stock Options 

Outstanding
 
 
Weighted 

Average 

Exercise Price
 
 
Weighted 

Average 

Remaining 

Contractual 

Term
 
 
Aggregate 

Intrinsic Value
 
 
 
(In thousands)
 
 
 
 
 
(In years)
 
 
(In thousands)
 
Outstanding at January 1, 2018
 
 
588
 
 
$
 13.12
 
 
 
 
 
 
 
 
 
Granted
 
 
141
 
 
 
23.73
 
 
 
 
 
 
 
 
 
Exercised
 
 
(167
)
 
 
10.21
 
 
 
 
 
 
 
 
 
Forfeited or expired
 
 
(30
)
 
 
15.07
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2018
 
 
532
 
 
$
16.73
 
 
 
6.26
 
 
$
2,368
 
Vested or expected to vest at December 31, 2018
 
 
514
 
 
$
16.73
 
 
 
6.23
 
 
$
2,303
 
Exercisable at December 31, 2018
 
 
275
 
 
$
13.29
 
 
 
4.31
 
 
$
1,915
 
Summary of Status of Company's Non-Vested Restricted Shares
The table below summarizes activity related to the Company’s non-vested
RSAs and RSUs
for the year ended December 31, 2018.
 
 
 
Shares
 
 
Weighted 
Average Fair
Value
 
 
 
(In thousands)
 
 
 
 
Nonvested at January 1, 2018
 
 
376
 
 
$
16.82
 
Granted
 
 
424
 
 
 
23.84
 
Vested
 
 
(158
)
 
 
16.50
 
Forfeited
 
 
(18
)
 
 
20.57
 
Nonvested at December 31, 2018
 
 
624
 
 
$
21.56