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Incentive Plan (Tables) | 12 Months Ended
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Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Summary of Fair Value of Stock Options Granted | The fair value of stock options granted by the Company was estimated through the use of the Black-Scholes option pricing model applying the following assumptions:
|  | 2018 |  | 2017 |  | 2016
Risk-free interest rate |  | 2.65 | % |  | 2.31 | % |  | 1.69 | %
Expected option life |  | 7 years |  |  | 7 years |  |  | 7 years |
Expected volatility |  | 21 | % |  | 21 | % |  | 21 | %
Expected dividend yield |  | 2.19 | % |  | 2.07 | % |  | 3.01 | %
Weighted average fair value of an option share granted during the year |  | $ | 5.44 |  |  | $ | 5.62 |  |  | $ | 2.64 |
Intrinsic value of options exercised during the year (in thousands) |  | 8,513 |  |  | 7,882 |  |  | 3,412 |
Summary of Option Activity | A summary of option activity for the years ended December 31, 2018, 2017 and 2016 is as follows:
|  | 2018 |  | 2017 |  | 2016
|  | Number of Shares |  | Weighted Average Exercise Price |  | Number of Shares |  | Weighted Average Exercise Price |  | Number of Shares |  | Weighted Average Exercise Price
Outstanding at beginning of year |  | 2,489,314 |  |  | $ | 16.91 |  |  | 2,758,833 |  |  | $ | 14.94 |  |  | 2,281,931 |  |  | $ | 17.62 |
Granted |  | 135,107 |  |  | 27.39 |  |  | 335,150 |  |  | 29.01 |  |  | 317,460 |  |  | 17.27 |
Assumed in acquisition |  | 491,248 |  |  | 21.92 |  |  | — |  |  | — |  |  | 886,968 |  |  | 10.30 |
Exercised |  | (765,624 | ) |  | 17.69 |  |  | (567,153 | ) |  | 14.39 |  |  | (375,576 | ) |  | 13.20 |
Forfeited |  | (9,203 | ) |  | 28.42 |  |  | (35,099 | ) |  | 18.42 |  |  | (11,625 | ) |  | 16.37 |
Expired |  | — |  |  | — |  |  | (2,417 | ) |  | 11.70 |  |  | (340,325 | ) |  | 25.02 |
Outstanding at end of year |  | 2,340,842 |  |  | $ | 18.25 |  |  | 2,489,314 |  |  | $ | 16.91 |  |  | 2,758,833 |  |  | $ | 14.94 |
Options exercisable |  | 1,604,576 |  |  |  |  | 1,608,762 |  |  |  |  | 1,912,630 |  |  |
Summary of Stock Options Outstanding | The following table summarizes information about stock options outstanding at December 31, 2018:
|  | Options Outstanding |  | Options Exercisable
Exercise Prices |  | Number of Options |  | Weighted Average Remaining Contractual Life |  | Weighted Average Exercise Price |  | Number of Options |  | Weighted Average Remaining Contractual Life |  | Weighted Average Exercise Price
$8.45 to 12.28 |  | 465,666 |  |  | 1.7 years |  | $ | 9.82 |  |  | 465,666 |  |  | 1.7 years |  | $ | 9.82 |
12.40 to 15.34 |  | 561,821 |  |  | 3.3 |  | 14.07 |  |  | 554,321 |  |  | 3.3 |  | 14.09 |
16.06 to 18.09 |  | 590,073 |  |  | 6.3 |  | 17.43 |  |  | 271,674 |  |  | 5.9 |  | 17.50 |
19.05 to 27.45 |  | 394,912 |  |  | 6.8 |  | 26.40 |  |  | 244,665 |  |  | 5.5 |  | 26.10 |
29.01 to 33.28 |  | 328,370 |  |  | 8.2 |  | 29.03 |  |  | 68,250 |  |  | 8.0 |  | 29.10 |
|  | 2,340,842 |  |  | 5.0 years |  | $ | 18.25 |  |  | 1,604,576 |  |  | 3.8 years |  | $ | 15.90 |
Summary of Granted but Unvested Stock Award Activity | A summary of the granted but unvested stock award activity for the years ended December 31, 2018, 2017 and 2016 are as follows:
|  | 2018 |  | 2017 |  | 2016
|  | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Number of Shares |  | Weighted Average Grant Date Fair Value
Outstanding at beginning of year: |  | 169,703 |  |  | $ | 21.79 |  |  | 156,945 |  |  | $ | 17.25 |  |  | 126,960 |  |  | $ | 16.90 |
Granted |  | 272,668 |  |  | 27.52 |  |  | 69,175 |  |  | 28.70 |  |  | 66,770 |  |  | 17.66 |
Vested |  | (58,754 | ) |  | 20.81 |  |  | (47,379 | ) |  | 17.32 |  |  | (33,651 | ) |  | 16.31 |
Forfeited |  | (53,019 | ) |  | 26.60 |  |  | (9,038 | ) |  | 19.14 |  |  | (3,134 | ) |  | 16.54 |
Outstanding at end of year |  | 330,598 |  |  | $ | 25.92 |  |  | 169,703 |  |  | $ | 21.79 |  |  | 156,945 |  |  | $ | 17.25 |

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