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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share Based Compensation [Abstract]

Summary of Option Activity

A summary of option activity as of December 31, 2020, 2019, and 2018, and changes during each year, is presented below:

		Shares				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value
		(In thousands)										(In thousands)
Outstanding at December 31, 2017			887			$	8.53			8.4 years		$	527
Granted			582				8.60
Exercised			(21	)			4.88
Forfeited or expired			(154	)			8.74
Outstanding at December 31, 2018			1,294				8.60			8.1 years			667
Granted			591				9.70
Exercised			(111	)			5.91
Forfeited or expired			(80	)			9.24
Outstanding at December 31, 2019			1,694				9.13			7.9 years			3,969
Granted			660				8.73
Exercised			—				—
Forfeited or expired			(458	)			9.05
Outstanding at December 31, 2020			1,896			$	9.01			7.4 years		$	114
Vested and Exercisable at December 31, 2020			1,101			$	9.06			6.6 years		$	26

Schedule of Weighted-Average Assumptions to Estimate Fair Value of Each Option

The fair value of each option was estimated on the date of grant using the Black-Scholes-Merton option-pricing formula, with the following weighted average assumptions:

		2020				2019
Expected dividend yield			3.02	%			3.80	%
Expected volatility			35.48	%			36.73	%
Risk-free interest rate			1.38	%			2.56	%
Expected term of options		7 years				7 years

Nonvested Performance Shares

A summary of the status of the Company's nonvested performance shares as of December 31, 2020, 2019, and 2018, and changes during each year, is presented below:

		Shares				Weighted-Average Grant-Date Fair Value
Nonvested at December 31, 2017			884,342			$	7.05
Granted			751,128				7.43
Vested			(445,311	)			5.98
Forfeited or unearned			(201,322	)			7.54
Nonvested at December 31, 2018			988,837				8.07
Granted			626,776				8.87
Vested			(214,824	)			8.49
Forfeited or unearned			(427,010	)			8.34
Nonvested at December 31, 2019			973,779				8.38
Granted			1,616,902				8.01
Vested			(224,681	)			8.33
Forfeited or unearned			(1,466,729	)			8.10
Nonvested at December 31, 2020			899,271			$	8.19

Restricted Shares

A summary of the status of the Company's restricted shares of CRD-A as of December 31, 2020, 2019, and 2018 and changes during each year, is presented below:

		Shares				Weighted-Average Grant-Date Fair Value
Nonvested at December 31, 2017			112,219			$	7.89
Granted			112,502				7.81
Vested			(131,260	)			8.27
Forfeited or unearned			(21,352	)			8.43
Nonvested at December 31, 2018			72,109				7.76
Granted			149,496				9.38
Vested			(108,610	)			9.04
Forfeited or unearned			(31,387	)			9.55
Nonvested at December 31, 2019			81,608				8.35
Granted			117,279				8.34
Vested			(119,327	)			8.52
Forfeited or unearned			—				—
Nonvested at December 31, 2020			79,560			$	8.08

X

- Definition

Tabular disclosure of the changes in outstanding nonvested performance-based units.

+ References

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-Publisher FASB
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-Topic 718
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-Section 50
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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 term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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