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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Activity
The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value:

Nine Months Ended September 30,
Restricted Shares and Performance Based Shares20202019
Expected quarterly dividends per share$0.3075 $0.2900 
Risk-free interest rate0.72 %2.47 %
Market-Based Shares
Dividend yield2.51 %2.59 %
Expected volatility19.41 19.55 
Risk-free interest rate0.72 2.51 

The following table summarizes activity in restricted stock awards, including performance-based and market-based shares, and stock options, for the nine months ended September 30, 2020:

Restricted StockStock Options
SharesWeighted-
Average
Grant Date Fair Value		SharesWeighted-
Average
Exercise Price
Outstanding at December 31, 2019161,542 $38.21 2,000 $12.22 
Granted
246,029 36.73 — — 
Exercised
(238,054)34.86 (2,000)12.22 
Forfeited
(1,456)41.32 — — 
Outstanding at September 30, 2020168,061 $40.77 — $— 
The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares, and stock options:
Nine Months Ended September 30,
Restricted Stock20202019
Weighted-average grant date fair value$36.73 $37.92 
Total fair value of restricted shares that vested (in thousands)$11,740 $6,227 
Stock Options
Total intrinsic value of options exercised (in thousands)$84 $2,617