Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The table below provides a summary of the options granted, including the weighted average fair value, the fair value as a percentage of the market value of the stock at the date of grant and the average assumptions used in the model for the periods indicated:

	Three months ended March 31,
	2022			2021
Options granted	16,797			17,385
Term in years	10			10
Weighted average assumptions used in the fair value model:
Expected volatility	44		%	44		%
Expected dividend yield	3.05		%	3.00		%
Expected life in years	6.5			6.5
Risk-free interest-rate	2.19		%	1.28		%
Weighted average market price on date of grants	$	38.58		$	32.73
Per share weighted average fair value	$	14.40		$	11.95
Fair value as a percentage of market value at grant date	37		%	37		%

Schedule of Restricted Stock Awards Granted

The table below provides a summary of restricted stock awards granted during the periods indicated:

	Three months ended March 31,
Restricted Stock Awards (number of underlying shares)	2022		2021
Two-year vesting	8,823		8,109
Four-year vesting	21,554		23,920
Performance-based vesting	22,254		21,559
Total restricted stock awards granted	52,631		53,588
Weighted average grant date fair value	$	38.58	$	32.73