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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Estimated Fair Value of Stock Options
The fair value of each stock option granted in 2019, 2018 and 2017, was estimated on the date of grant using the following weighted-average assumptions.
 
Year Ended December 31,
 
 
        2019        
 
 
        2018        
 
 
        2017        
 
Dividend yield
   
2.4
%    
2.4
%    
2.2
%
Volatility
   
23.3
%    
25.4
%    
29.6
%
Risk-free interest rate
   
2.5
%    
2.9
%    
1.8
%
Expected life
   
5.4 years
     
5.4 years
     
5.6 years
 
Weighted average grant date fair value
  $
4.35
    $
5.08
    $
5.17
 
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, 2019.
 
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, 2019
   
532
    $
 16.73
     
     
 
Granted
   
2
     
23.12
     
     
 
Exercised
   
(161
   
13.78
     
     
 
Forfeited or expired
   
(14
   
19.00
     
     
 
   
 
 
   
 
 
                 
Outstanding at December 31, 2019
   
359
    $
 17.99
     
6.05
    $
 1,587
 
                                 
Vested or expected to vest at December 31, 2019
   
359
    $
 17.99
     
6.05
    $
 1,587
 
Exercisable at December 31, 2019
   
212
    $
 15.58
     
4.76
    $
 1,364
 
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, 2019.
                 
 
Shares
 
 
Weighted
Average Fair
Value
 
 
(In thousands)
 
 
 
Nonvested at January 1, 2019
   
624
    $
 21.56
 
Granted
   
217
     
20.76
 
Vested
   
(220
   
19.59
 
Forfeited
   
(180
   
23.75
 
   
 
 
   
 
 
 
Nonvested at December 31, 2019
   
441
    $
 21.25