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Incentive Plan (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Fair Value of Stock Options Granted
The fair value of stock options granted by the Company was estimated through the use of the Black-Scholes option pricing model applying the following assumptions:
 
 
2018
 
2017
 
2016
Risk-free interest rate
 
2.65
%
 
2.31
%
 
1.69
%
Expected option life
 
7 years

 
7 years

 
7 years

Expected volatility
 
21
%
 
21
%
 
21
%
Expected dividend yield
 
2.19
%
 
2.07
%
 
3.01
%
 
 
 
 
 
 
 
Weighted average fair value of an option share granted during the year
 
$
5.44

 
$
5.62

 
$
2.64

Intrinsic value of options exercised during the year (in thousands)
 
8,513

 
7,882

 
3,412
Summary of Option Activity
A summary of option activity for the years ended December 31, 2018, 2017 and 2016 is as follows:
 
 
2018
 
2017
 
2016
 
 
Number
of
Shares
 
Weighted
Average
Exercise
Price
 
Number
of
Shares
 
Weighted
Average
Exercise
Price
 
Number
of
Shares
 
Weighted
Average
Exercise
Price
Outstanding at beginning of year
 
2,489,314

 
$
16.91

 
2,758,833

 
$
14.94

 
2,281,931

 
$
17.62

Granted
 
135,107

 
27.39

 
335,150

 
29.01

 
317,460

 
17.27

Assumed in acquisition
 
491,248

 
21.92

 
—

 
—

 
886,968

 
10.30

Exercised
 
(765,624
)
 
17.69

 
(567,153
)
 
14.39

 
(375,576
)
 
13.20

Forfeited
 
(9,203
)
 
28.42

 
(35,099
)
 
18.42

 
(11,625
)
 
16.37

Expired
 
—

 
—

 
(2,417
)
 
11.70

 
(340,325
)
 
25.02

Outstanding at end of year
 
2,340,842

 
$
18.25

 
2,489,314

 
$
16.91

 
2,758,833

 
$
14.94

Options exercisable
 
1,604,576

 
 
 
1,608,762

 
 
 
1,912,630

 
 
Summary of Stock Options Outstanding
The following table summarizes information about stock options outstanding at December 31, 2018:
 
 
Options Outstanding
 
Options Exercisable
Exercise Prices
 
Number
of
Options
 
Weighted
Average
Remaining
Contractual
Life
 
Weighted
Average
Exercise
Price
 
Number
of
Options
 
Weighted
Average
Remaining
Contractual
Life
 
Weighted
Average
Exercise
Price
$8.45 to 12.28
 
465,666

 
1.7 years
 
$
9.82

 
465,666

 
1.7 years
 
$
9.82

12.40 to 15.34
 
561,821

 
3.3
 
14.07

 
554,321

 
3.3
 
14.09

16.06 to 18.09
 
590,073

 
6.3
 
17.43

 
271,674

 
5.9
 
17.50

19.05 to 27.45
 
394,912

 
6.8
 
26.40

 
244,665

 
5.5
 
26.10

29.01 to 33.28
 
328,370

 
8.2
 
29.03

 
68,250

 
8.0
 
29.10

 
 
2,340,842

 
5.0 years
 
$
18.25

 
1,604,576

 
3.8 years
 
$
15.90
Summary of Granted but Unvested Stock Award Activity
A summary of the granted but unvested stock award activity for the years ended December 31, 2018, 2017 and 2016 are as follows:
 
 
2018
 
2017
 
2016
 
 
Number
of
Shares
 
Weighted
Average
Grant Date
Fair Value
 
Number
of
Shares
 
Weighted
Average
Grant Date
Fair Value
 
Number
of
Shares
 
Weighted
Average
Grant Date
Fair Value
Outstanding at beginning of year:
 
169,703

 
$
21.79

 
156,945

 
$
17.25

 
126,960

 
$
16.90

Granted
 
272,668

 
27.52

 
69,175

 
28.70

 
66,770

 
17.66

Vested
 
(58,754
)
 
20.81

 
(47,379
)
 
17.32

 
(33,651
)
 
16.31

Forfeited
 
(53,019
)
 
26.60

 
(9,038
)
 
19.14

 
(3,134
)
 
16.54

Outstanding at end of year
 
330,598

 
$
25.92

 
169,703

 
$
21.79

 
156,945

 
$
17.25