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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Assumptions Used To Determine Fair Value of Stock Options
The following assumptions were used to determine the fair value of stock options as of the grant date to determine compensation expense for the years ended December 31, 2017, 2016, and 2015:
Stock Options:
2017

2016

2015
Grant date fair value

$6.70



$6.31



$7.01

Expected life of options
8 years


8 years


8 years

Risk-free interest rate
2.29
%

2.15
%

2.17
%
Dividend yield rate
2.64
%

2.85
%

2.64
%
Price volatility
23.43
%

27.37
%

28.63
%
Stock Options Activity
The following table summarizes stock option activity during 2017
 
 Number of Shares

Weighted Average Exercise Price

Weighted Average Remaining Contractual Life, in Years
 


 


Outstanding at January 1, 2017
173,757



$23.65


 
Granted
26,112


33.03


 
Forfeited
(4,525
)

23.00


 
Exercised
(51,899
)

19.72


 
Outstanding at December 31, 2017
143,445



$26.79


5.60
Restricted Stock Unit Activity
The following table summarizes restricted stock unit activity during 2017:
 
 Number of Shares

Weighted Average Grant Date Fair Value

Weighted Average Remaining Contractual Life, in Years
 


 


Outstanding at January 1, 2017
64,901



$28.04


 
Granted
23,967


33.12


 
Vested
(19,727
)

27.28


 
Forfeited
(3,258
)

28.28


 
Outstanding at December 31, 2017
65,883



$30.10


1.96