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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Summary of Company's Stock Option Plan Activity | A summary of the stock option activity for the three and nine months ended September 30, 2020 and 2019 is as follows (option amounts not in thousands):
|  |  |  |  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  |  | Weighted |  |  | Average |  |  |  |
|  |  |  |  |  | Average |  |  | Remaining |  | Aggregate |
|  | Number of |  |  | Exercise |  |  | Contractual |  | Intrinsic |
|  | Options |  |  | Price |  |  | Term |  | Value |
Outstanding at January 1, 2020 |  |  | 340,000 |  |  | $ | 43.21 |  |  | 7.9 years |  | $ | 1,657 |
Granted |  |  | 110,000 |  |  | $ | 48.00 |  |  |  |  |  |  |
Exercised |  |  | (10,000 | ) |  | $ | 6.30 |  |  |  |  |  |  |
Outstanding at March 31, 2020 |  |  | 440,000 |  |  | $ | 45.25 |  |  | 8.3 years |  | $ | — |
Outstanding at June 30, 2020 |  |  | 440,000 |  |  | $ | 45.25 |  |  | 8.1 years |  | $ | 1,184 |
Outstanding at September 30, 2020 |  |  | 440,000 |  |  | $ | 45.25 |  |  | 7.8 years |  | $ | 2,321 |
Exercisable at September 30, 2020 |  |  | 165,000 |  |  | $ | 42.17 |  |  | 7.0 years |  | $ | 1,334 |
Outstanding at January 1, 2019 |  |  | 240,000 |  |  | $ | 37.19 |  |  | 8.8 years |  | $ | 3,278 |
Granted |  |  | 110,000 |  |  | $ | 53.00 |  |  |  |  |  |  |
Outstanding at March 31, 2019 |  |  | 350,000 |  |  | $ | 42.16 |  |  | 8.5 years |  | $ | 1,329 |
Exercised |  |  | (10,000 | ) |  | $ | 6.30 |  |  |  |  |  |  |
Outstanding at June 30, 2019 |  |  | 340,000 |  |  | $ | 43.21 |  |  | 8.4 years |  | $ | 445 |
Outstanding at September 30, 2019 |  |  | 340,000 |  |  | $ | 43.21 |  |  | 8.1 years |  | $ | 1,057 |
Exercisable at September 30, 2019 |  |  | 92,500 |  |  | $ | 36.36 |  |  | 7.0 years |  | $ | 627 |
Information about Options Exercised | The following table summarizes information about options exercised for the three and nine months ended September 30, 2020 and 2019 (option amounts not in thousands):
|  | Three Months Ended |  | Nine Months Ended |
|  | September 30, |  | September 30, |
|  | 2020 |  |  | 2019 |  | 2020 |  |  | 2019 |
Options exercised |  |  | — |  |  |  | — |  |  | 10,000 |  |  |  | 10,000 |
Total intrinsic value of exercised options |  | $ | — |  |  | $ | — |  | $ | 288 |  |  | $ | 347 |
Tax benefits realized |  | $ | — |  |  | $ | (3 | ) | $ | 71 |  |  | $ | 85 |
Assumptions Used to Estimate the Fair Value of Stock Options Granted | The following table provides assumptions used in the Black-Scholes option-pricing model to estimate the fair value of the stock options granted during the nine months ended September 30, 2020 and 2019:
|  | 2020 |  |  | 2019 |
Expected dividend yield |  |  | 3.48 | % |  |  | 3.34 | %
Expected volatility |  |  | 38.68 | % |  |  | 40.17 | %
Risk-free interest rate |  |  | 1.63 | % |  |  | 2.53 | %
Expected life (in years) |  |  | 5 |  |  |  | 5 |
Information with Respect to Unvested Restricted Stock Awards Stock Option and Incentive Plan | Information with respect to the activity of unvested restricted stock awards during the three and nine months ended September 30, 2020 and 2019 is as follows:
|  | Number of |  |  | Weighted |
|  | Restricted |  |  | Average |
|  | Stock |  |  | Grant Date |
|  | Awards |  |  | Fair Value |
Nonvested at January 1, 2020 |  |  | 396,760 |  |  | $ | 41.71 |
Granted |  |  | 45,000 |  |  | $ | 44.97 |
Vested |  |  | (31,250 | ) |  | $ | 40.97 |
Forfeited |  |  | (7,138 | ) |  | $ | 42.60 |
Nonvested at March 31, 2020 |  |  | 403,372 |  |  | $ | 42.12 |
Granted |  |  | 145,000 |  |  | $ | 45.59 |
Vested |  |  | (104,926 | ) |  | $ | 41.16 |
Forfeited |  |  | (5,220 | ) |  | $ | 43.75 |
Nonvested at June 30, 2020 |  |  | 438,226 |  |  | $ | 43.48 |
Granted |  |  | 2,680 |  |  | $ | 54.36 |
Vested |  |  | (625 | ) |  | $ | 41.02 |
Forfeited |  |  | (2,369 | ) |  | $ | 45.60 |
Nonvested at September 30, 2020 |  |  | 437,912 |  |  | $ | 43.54 |
Nonvested at January 1, 2019 |  |  | 632,296 |  |  | $ | 33.33 |
Granted |  |  | 40,000 |  |  | $ | 47.94 |
Vested |  |  | (21,250 | ) |  | $ | 37.69 |
Forfeited |  |  | (4,681 | ) |  | $ | 42.79 |
Nonvested at March 31, 2019 |  |  | 646,365 |  |  | $ | 34.03 |
Granted |  |  | 133,160 |  |  | $ | 41.30 |
Vested |  |  | (84,914 | ) |  | $ | 41.58 |
Forfeited |  |  | (264,211 | ) |  | $ | 23.81 |
Nonvested at June 30, 2019 |  |  | 430,400 |  |  | $ | 41.06 |
Granted |  |  | 7,244 |  |  | $ | 41.76 |
Forfeited |  |  | (2,351 | ) |  | $ | 41.97 |
Nonvested at September 30, 2019 |  |  | 435,293 |  |  | $ | 41.07 |
Information about Deferred Tax Benefits Recognized Related to Restricted Stock Awards, Paid Dividends and the Fair Value of Vested Restricted Stock | The following table summarizes information about deferred tax benefits recognized and tax benefits realized related to restricted stock awards and paid dividends, and the fair value of vested restricted stock for the three and nine months ended September 30, 2020 and 2019.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Deferred tax benefits recognized |  | $ | 353 |  |  | $ | 282 |  |  | $ | 956 |  |  | $ | 772 |
Tax benefits realized for restricted stock and paid dividends |  | $ | 47 |  |  | $ | 1 |  |  | $ | 1,286 |  |  | $ | 986 |
Fair value of vested restricted stock |  | $ | 26 |  |  | $ | — |  |  | $ | 5,625 |  |  | $ | 4,331 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected life (b) expected volatility of the entity's shares, (c) expected dividends, and (d) risk-free rate(s). + References No definition available. + Details
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