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Stockholders' Equity and Stock Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
Schedule of Information of Cashless Exercise Prices | The table below depicts the total number of shares, amount, and weighted average price withheld for cashless exercises in each of the respective years.
| 2020 | 2019 | 2018
Number of shares withheld | 10,001 |  | 7,795 |  | 46,794 |
Total amount withheld (in thousands) | $ | 398 |  | $ | 326 |  | $ | 1,698 |
Weighted-average price | $ | 39.83 |  | $ | 41.84 |  | $ | 36.28 |
Schedule of Share-based Compensation, Stock Options, Activity | A summary of stock option activity for the years ended December 31, 2020, 2019, and 2018 is presented in the following table. The intrinsic value of options outstanding and exercisable is calculated as the number of in-the-money options times the difference between the market price of our stock and the exercise prices of the in-the-money options as of each year-end period presented.
| Number of Shares | Weighted Average Exercise Price | Aggregate Intrinsic Value (in thousands) | Weighted Average Grant-Date Fair Value | Weighted Average Remaining Contractual Term (in years)
Options outstanding at December 31, 2017 | 517,936 |  | $ | 20.42 |  | $ | 7,075 |  |  | 5.34
Granted | 74,096 |  | 33.97 |  |  | $ | 7.17 |  |
Cancelled, expired or forfeited | (9,140) |  | 28.25 |  |  |  |
Exercised | (157,192) |  | 13.93 |  | 3,462 |  |  |
Options outstanding at December 31, 2018 | 425,700 |  | 25.01 |  | 6,910 |  |  | 5.85
Exercisable (vested) at December 31, 2018 | 311,050 |  | 22.57 |  | 5,809 |  |  | 4.94
Options outstanding at December 31, 2018 | 425,700 |  | 25.01 |  | 6,910 |  |  | 5.85
Granted | 53,370 |  | 44.01 |  |  | 9.37 |  |
Cancelled, expired or forfeited | (13,580) |  | 38.88 |  |  |  |
Exercised | (48,108) |  | 16.11 |  | 1,247 |  |  |
Options outstanding at December 31, 2019 | 417,382 |  | 28.01 |  | 7,112 |  |  | 5.50
Exercisable (vested) at December 31, 2019 | 333,870 |  | 25.34 |  | 6,581 |  |  | 4.76
Options outstanding at December 31, 2019 | 417,382 |  | 28.01 |  | 7,112 |  |  | 5.50
Granted | 44,632 |  | 39.18 |  |  | 6.84 |  |
Cancelled, expired or forfeited | (17,222) |  | 40.31 |  |  |  |
Exercised | (73,208) |  | 22.26 |  | 1,370 |  |  |
Options outstanding at December 31, 2020 | 371,584 |  | 29.92 |  | 2,262 |  |  | 5.12
Exercisable (vested) at December 31, 2020 | 315,377 |  | 28.05 |  | 2,254 |  |  | 4.53
Schedule of Unrecognized Compensation Cost, Nonvested Awards | The following table summarizes non-vested restricted stock awards and changes during the years ended December 31, 2020, 2019, and 2018.
| Number of Shares | Weighted Average Grant-Date Fair Value
Non-vested awards at December 31, 2017 | 91,216 |  | $ | 28.16 |
Granted | 37,040 |  | 33.58 |
Vested | (28,812) |  | 26.06 |
Cancelled or forfeited | (12,056) |  | 27.32 |
Non-vested awards at December 31, 2018 | 87,388 |  | 31.26 |
Granted | 29,110 |  | 44.45 |
Vested | (28,099) |  | 27.88 |
Cancelled or forfeited | (18,333) |  | 32.34 |
Non-vested awards at December 31, 2019 | 70,066 |  | 37.81 |
Granted | 29,100 |  | 40.10 |
Vested | (23,524) |  | 36.35 |
Cancelled or forfeited | (14,314) |  | 37.63 |
Non-vested awards at December 31, 2020 | 61,328 |  | 39.50 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | A summary of the options outstanding and exercisable by price range as of December 31, 2020 is presented in the following table:
| Stock Options Outstanding as of December 31, 2020 |  | Stock Options Exercisable as of December 31, 2020
Range of Exercise Prices | Stock Options Outstanding | Remaining Contractual Life (in years) | Weighted Average Exercise Price |  | Stock Options Exercisable | Weighted Average Exercise Price
$10.01 - $20.00 | 48,962 |  | 1.3 | $ | 19.24 |  |  | 48,962 |  | $ | 19.24 |
$20.01 - $30.00 | 138,394 |  | 3.6 | $ | 23.92 |  |  | 138,394 |  | $ | 23.92 |
$30.01 - $40.00 | 108,818 |  | 6.5 | $ | 33.75 |  |  | 97,960 |  | $ | 33.77 |
$40.01 - $50.00 | 75,410 |  | 8.4 | $ | 42.33 |  |  | 30,061 |  | $ | 42.84 |
| 371,584 |  |  |  |  | 315,377 |  |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | We determine the fair value of stock options at the grant date using the Black-Scholes pricing model that takes into account the stock price at the grant date, exercise price, and the following assumptions (weighted-average shown).
| Years ended December 31,
| 2020 | 2019 | 2018
Risk-free interest rate | 0.91 | % | 2.51 | % | 2.60 | %
Expected dividend yield on common stock | 2.38 | % | 1.75 | % | 1.76 | %
Expected life in years | 6.1 | 5.8 | 5.9
Expected price volatility | 24.43 | % | 22.71 | % | 22.47 | %
Summary of Cash Dividends Paid to Common Shareholders | Presented below is a summary of cash dividends paid in 2020, 2019 and 2018 to common shareholders, recorded as a reduction from retained earnings. On January 22, 2021, the Board of Directors declared a $0.23 per share cash dividend, paid February 12, 2021 to the shareholders of record at the close of business on February 5, 2021.
| Years ended December 31,
(in thousands except per share data) | 2020 | 2019 | 2018
Cash dividends to common stockholders | $ | 12,506 |  | $ | 10,958 |  | $ | 8,860 |
Cash dividends per common share | $ | 0.92 |  | $ | 0.80 |  | $ | 0.64 |
Schedule of Share Repurchases | Shares repurchased pursuant to our common stock share repurchase programs during 2020, 2019, and 2018, were as follows.
(dollars in millions) | 2020 1 | 2019 | 2018 | Cumulative Totals
Total number of common shares repurchased | 203,709 | 356,000 | 171,217 | 730,926
Total purchase price of common shares repurchased 2 | $ | 7.2 |  | $ | 15.0 |  | $ | 7.0 |  | $ | 29.2 |
1 On February 28, 2020, the 2018 Share Repurchase Program expired with approximately $1.5 million remaining from the $25.0 million authorized for repurchases. 2 Total purchase price includes commission costs.

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