Share-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2021

Share-Based Compensation Plans

Schedule of Company's stock option activity

The following table summarizes the Company’s stock option activity for the three-month period ended March 31, 2021:

				Weighted
		Weighted		Average
		Average		Remaining	Aggregate
		Exercise		Contractual	Intrinsic
	Shares	Price		Term (Years)	Value*
Outstanding at December 31, 2020	1,125,383	$	25.62
Granted	—		—
Exercised	—		—
Forfeited or expired	—		—
Outstanding at March 31, 2021	1,125,383	$	25.62	5.2	$	685,000
Exercisable at March 31, 2021	640,512	$	26.77	2.8	$	—

*     The aggregate intrinsic value of outstanding and exercisable stock options is defined as the difference between the market value of the Company's stock on March 31, 2021 of $21.63 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.

Schedule of Company's restricted stock award

The following table summarizes the Company’s restricted stock award activity for the three-month period ended March 31, 2021:

				Weighted
		Weighted		Average
	Shares of	Average		Remaining	Aggregate
	Restricted	Grant Date		Contractual	Intrinsic
	Stock	Fair Value		Term (Years)	Value*
Non-vested at December 31, 2020	72,490	$	23.77
Issued	—		—
Vested	(150)		28.77
Forfeited	—		—
Non-vested at March 31, 2021	72,340	$	23.76	2.5	$	1,565,000

*The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of the Company’s stock on March 31, 2021 of $21.63 multiplied by the number of non-vested restricted shares outstanding.