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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2018
Multiemployer Plans [Line Items] |
Summary Of Stock Option Activity | A summary of the Company’s stock option activity and related information is presented below:
| 2018 | 2017 | 2016
| Options | Weighted-Average Exercise Price | Options | Weighted-Average Exercise Price | Options | Weighted-Average Exercise Price
Outstanding at January 1 | 87,605 |  | $ | 47.15 |  | 86,613 |  | $ | 41.08 |  | 95,015 |  | $ | 38.38 |
Granted | — |  | — |  | 17,631 |  | 66.32 |  | 24,348 |  | 43.73 |
Exercised | (29,633 | ) | (39.31 | ) | (16,639 | ) | 35.91 |  | (32,750 | ) | 35.28 |
Forfeited | — |  | — |  | — |  | — |  | — |  | — |
Outstanding at December 31 | 57,972 |  | $ | 51.15 |  | 87,605 |  | $ | 47.15 |  | 86,613 |  | $ | 41.08 |
Exercisable at end of year | 2,697 |  | $ | 45.13 |  | 7,887 |  | $ | 37.37 |  | 3,000 |  | $ | 29.45 |
Nonvested at beginning of year | 79,718 |  | 48.08 |  | 83,613 |  | 41.47 |  | 75,265 |  | 39.38 |
Granted during the year | — |  | — |  | 17,631 |  | 66.32 |  | 24,348 |  | 43.73 |
Vested during the year | (24,443 | ) | 40.58 |  | (21,526 | ) | 37.31 |  | (16,000 | ) | 35.09 |
Forfeited during the year | — |  | — |  | — |  | — |  | — |  | — |
Nonvested at end of year | 55,275 |  | $ | 51.40 |  | 79,718 |  | $ | 48.08 |  | 83,613 |  | $ | 41.47 |
Information regarding stock option exercises and stock-based compensation expense associated with stock options is provided in the following table (in thousands):
| For the year ended December 31,
| 2018 | 2017 | 2016
Proceeds from stock option exercises | $ | 1,164 |  | $ | 597 |  | $ | 1,155 |
Intrinsic value of stock options exercised | 944 |  | 481 |  | 551 |
Stock-based compensation expense associated with stock options | $ | 178 |  | $ | 246 |  | $ | 240 |
Income tax benefit recognized related to stock-based compensation | 19 |  | 42 |  | 36 |
At period-end: | 2018 |  |
Unrecognized stock-based compensation expense | $ | 204 |  |  |
Weighted average period in which the above amount is expected to be recognized | 2.0 |  | years |
Stock Options Outstanding And Exercisable | Additional information regarding the Company's stock options outstanding and exercisable at December 31, 2018, is provided in the following table:
Ranges of Exercise Prices | No. of Options Outstanding | Weighted-Average Exercise Price | Weighted-Average Remaining Contractual Life (Months) | Aggregate Intrinsic Value (in thousands) | No. of Options Currently Exercisable | Weighted-Average Exercise Price of Options Currently Exercisable | Weighted-Average Remaining Contractual Life (Months) | Aggregate Intrinsic Value of Options Currently Exercisable (in thousands)
$ 35.00 - 39.99 | 38 |  | $ | 37.74 |  | 4.2 | $ | 1 |  | 38 |  | $ | 37.74 |  | 4.2 |  | $ | 1 |
40.00 - 44.99 | 30,676 |  | 43.87 |  | 6.8 | 728 |  | 1,675 |  | 44.43 |  | 5.2 |  | 39 |
45.00 - 49.99 | 9,627 |  | 46.61 |  | 6.2 | 202 |  | 984 |  | 46.61 |  | 6.2 |  | 21 |
50.00 - 69.99 | 17,631 |  | 66.32 |  | 8.2 | 22 |  | — |  | — |  | — |  | — |
| 57,972 |  |  |  | $ | 953 |  | 2,697 |  |  |  | $ | 61 |
Weighted Average Assumptions Estimate The Fair Value Of Options Granted | The following weighted average assumptions were used to estimate the fair value of options granted by the Company:
| For the year ended December 31,
| 2017 | 2016
Risk-free interest rate | 2.12 | % | 1.43 | %
Expected dividend yield | 2.60 | % | 3.86 | %
Volatility factor | 25.80 | % | 30.76 | %
Expected life of option | 7.0 years |  | 7.0 years |
Restricted Shares Activity And Related Information | A summary of the Company’s restricted shares activity and related information is presented below:
| 2018 | 2017 | 2016
| Restricted Awards | Average Market Price at Grant | Restricted Awards | Average Market Price at Grant | Restricted Awards | Average Market Price at Grant
Outstanding at January 1 | 170,033 |  |  | 180,622 |  |  | 172,921 |  |
Granted | 28,363 |  | $ | 69.94 |  | 28,839 |  | $ | 64.42 |  | 30,601 |  | $ | 46.39 |
Forfeited/Vested | (48,704 | ) |  | (39,428 | ) |  | (22,900 | ) |
Outstanding at December 31 | 149,692 |  |  | 170,033 |  |  | 180,622 |  |
Summary Of Activity Within The Defined Benefit Plan | The following table summarizes activity within the Company's Defined Benefit Plans (dollars in thousands):
| Pension Benefits
| 2018 | 2017
Change in fair value of plan assets: |  |
Fair value at beginning of measurement period | $ | 16,360 |  | $ | 17,117 |
Actual gain (loss) on plan assets | (434 | ) | 1,890 |
Contributions | 1,509 |  | — |
Benefits paid | (5,394 | ) | (2,647 | )
Fair value at end of measurement period | 12,041 |  | 16,360 |
Change in benefit obligation: |  |
Benefit obligation at beginning of measurement period | (18,488 | ) | (19,742 | )
Interest cost | (590 | ) | (772 | )
Actuarial (loss) gain | (1,488 | ) | (392 | )
Assumption changes | 825 |  | (614 | )
Benefits paid | 5,394 |  | 2,647 |
Settlement loss | 125 |  | 385 |
Benefit obligation at end of measurement period | (14,222 | ) | (18,488 | )
Funded status | $ | (2,181 | ) | $ | (2,128 | )
Weighted-average assumptions for benefit obligation: |  |
Discount rate | 4.10 | % | 3.38 | %
Expected long-term rate of return | 6.75 | % | 6.56 | %
Weighted-average assumptions for net periodic pension cost: |  |
Discount rate | 3.38 | % | 4.02 | %
Expected long-term rate of return | 6.56 | % | 5.83 | %
Net Periodic Pension Cost Of The Defined Benefit Plan | The following table presents the components of the net periodic pension cost of the Company's Defined Benefit Plans, which is recognized in Other Expenses in the Consolidated Statements of Income (in thousands):
| 2018 | 2017 | 2016
Components of net periodic benefit: |  |  |
Interest cost | $ | 590 |  | $ | 772 |  | $ | 820 |
Expected return on plan assets | (1,080 | ) | (1,219 | ) | (1,154 | )
Settlement | 71 |  | (104 | ) | — |
Net amortization and deferral | 890 |  | 849 |  | 849 |
Net Periodic Pension Cost | $ | 471 |  | $ | 298 |  | $ | 515 |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) | Amounts related to the Company's Defined Benefit Pension Plans recognized as a component of other comprehensive income were as follows (in thousands):
| 2018 | 2017 | 2016
Net actuarial gain (loss) | $ | (1,092 | ) | $ | 838 |  | $ | 157 |
Deferred tax (expense) benefit | 254 |  | (1,211 | ) | (58 | )
Other comprehensive income (loss), net of tax | $ | (838 | ) | $ | (373 | ) | $ | 99 |
Amounts recognized as a component of accumulated other comprehensive loss as of December 31, 2018 and 2017 were as follows (in thousands):
| 2018 | 2017
Net actuarial loss | $ | 7,652 |  | $ | 6,560 |
Deferred tax benefit | (1,781 | ) | (1,527 | )
Amounts included in accumulated other comprehensive loss, net of tax | $ | 5,871 |  | $ | 5,033 |
Summary Of Expected Benefit Payments | The following table summarizes the expected benefits to be paid in each of the next five years and in the aggregate for the five years thereafter (in thousands):
Plan Year Ending December 31, | Expected Benefits to be Paid
2019 | $ | 1,012 |
2020 | 1,016 |
2021 | 1,010 |
2022 | 1,010 |
2023 | 1,016 |
2024 through 2027 | 4,958 |
Summary Of Assets Segregated By Level Of Valuation Inputs Within The Fair Value Hierarchy | The major categories of assets in the Company’s Defined Benefit Plans as of year-end are presented in the following table (in thousands). Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 utilized to measure fair value (See Note Nineteen).
| Total | Level 1 | Level 2 | Level 3
2018 |  |  |  |
Cash and cash equivalents | $ | 12,041 |  | $ | 12,041 |  | $ | — |  | $ | — |
Total | $ | 12,041 |  | $ | 12,041 |  | $ | — |  | $ | — |
2017 |  |  |  |
Cash and cash equivalents | $ | 1,202 |  | $ | 1,202 |  | $ | — |  | $ | — |
Mutual funds/Investment funds | 5,421 |  | 5,206 |  | 215 |  | — |
Common stocks | 5,575 |  | 3,763 |  | 1,812 |  | — |
Mortgage-backed securities | 301 |  | — |  | 301 |  | — |
U.S. Treasuries | 1,277 |  | — |  | 1,277 |  | — |
Corporate bonds | 1,223 |  | — |  | 1,223 |  | — |
Alternative investments** | 1,361 |  | 759 |  | — |  | — |
Total | $ | 16,360 |  | $ | 10,930 |  | $ | 4,828 |  | $ | — |
** Includes an investment of $602 at December 31, 2017 that has not been categorized in the fair value hierarchy, as permitted by ASU No. 2015-07.

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