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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Assumptions Used To Determine Fair Value of Stock Options | The following assumptions were used to determine the fair value of stock options as of the grant date to determine compensation expense for the years ended December 31, 2021, 2020, and 2019:
Stock Options: | 2021 |  | 2020 |  | 2019
Grant date fair value | $10.27 |  |  | $6.55 |  |  | $5.34 |
Expected life of options | 8 years |  | 8 years |  | 8 years
Risk-free interest rate | 1.33 | % |  | 0.79 | % |  | 1.74 | %
Dividend yield rate | 3.86 | % |  | 4.55 | % |  | 4.11 | %
Price volatility | 36.46 | % |  | 35.44 | % |  | 24.34 | %
Stock Options Activity | The following table summarizes stock option activity during 2021:
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life, in Years
Outstanding at January 1, 2021 | 178,793 |  |  | $30.64 |  |  |
Granted | 12,893 |  |  | 42.02 |  |  |
Forfeited | — |  |  | — |  |  |
Exercised | (54,867) |  |  | 26.10 |  |  |
Outstanding at December 31, 2021 | 136,819 |  |  | $33.53 |  |  | 6.61
Restricted Stock Unit Activity | The following table summarizes restricted stock unit activity during 2021:
| Number of Shares |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Life, in Years
Outstanding at January 1, 2021 | 72,817 |  |  | $33.33 |  |  |
Granted | 17,316 |  |  | 42.02 |  |  |
Dividend equivalents awarded | 2,310 |  |  | 37.07 |  |  |
Vested | (33,490) |  |  | 33.24 |  |  |
Forfeited | (2,738) |  |  | 32.50 |  |  |
Outstanding at December 31, 2021 | 56,215 |  |  | $34.74 |  |  | 2.29

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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