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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Restricted Stock Activity

Following is a summary of the activity of the PBRS, based on target value:

Three Months Ended

June 30, 2020

Shares

 

Fair Value

Balance at December 31, 2019

 

 

102,116

$

49.13

Granted

32,910

54.02

Vested

(29,175)

49.33

Forfeited

(7,441)

50.08

Balance at June 30, 2020

98,410

$

50.64

Summary of PBRS Activity

There were no SARs granted and no expense recognized during the three months ended June 30, 2020. Following is a summary of the activity of the Company’s SARs program for the three-month period ended June 30, 2020:

Shares

Weighted-

Average

Exercise

Price

Average

Remaining

Contractual

Term Years

Aggregate

Intrinsic

Value

(In thousands)

Balance at December 31, 2019

155,292

$

32.58

2.92

$

3,908

Exercised

(10,293)

26.72

 

Exercisable at June 30, 2020

144,999

$

32.99

2.46

$

1,109

Summary of SARs Activity

Following is a summary of the activity of the restricted stock:

Six Months Ended

June 30, 2020

Shares

 

Fair Value

Balance at December 31, 2019

 

 

123,272

$

47.24

Granted

32,403

48.21

Vested

(20,369)

49.32

Forfeited

(4,962)

50.08

Balance at June 30, 2020

130,344

$

47.05