Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement [Abstract]

Restricted Stock Activity

A summary of all restricted stock activity under the equity compensation plans for the six months ended June 30, 2019 is as follows:

	For the Six Months Ended June 30, 2019
	Number of Shares		Weighted Average Grant Date Fair Value per Share
Non-vested outstanding at the beginning of the period	92,465		$	52.98
Granted	62,015		$	80.59
Vested	(27,628	)	$	51.53
Forfeited	(1,677	)	$	53.60
Non-vested outstanding at the end of the period	125,175		$	66.97

Stock Options Valuation Assumptions

The value of the options granted was estimated at the date of grant using the Black-Scholes pricing model using the following assumptions:

Risk-free rate of return	1.26	%
Dividend yield	1.25	%
Expected share price volatility(1)	18.50	%
Expected life in years(2)	6.3 years

Stock Options Activity

A summary of option activity as of June 30, 2019, and changes during the period then ended is presented below:

	Number of Shares		Weighted-average exercise price		Weighted-average remaining years of contractual term	Aggregate intrinsic value (in thousands)
Outstanding at January 1, 2019	804,303		$	16.00
Granted	—		—
Forfeited	(13,200	)	16.00
Exercised	(61,922	)	16.00
Outstanding at June 30, 2019	729,181		$	16.00	7.1	$	55,039
Exercisable at June 30, 2019	278,015		$	16.00	7.1	$	20,985