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

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

Nine Months Ended

September 30, 2020

Shares

 

Fair Value

Balance at December 31, 2019

 

 

123,272

$

47.24

Granted

33,568

47.83

Vested

(20,369)

49.32

Forfeited

(4,962)

50.08

Balance at September 30, 2020

131,509

$

46.96

Summary of PBRS Activity

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

Nine Months Ended

September 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 September 30, 2020

98,410

$

50.64

Summary of SARs Activity

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

144,999

$

32.99

2.20

$

1,247