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Stock-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
The following table presents compensation expense and related tax benefits for all equity awards recognized in the consolidated statements of income:
 
2019
 
2018
 
2017
 
(in thousands)
Compensation expense
$
7,413

 
$
7,965

 
$
5,209

Tax benefit
(1,610
)
 
(2,625
)
 
(3,994
)
Total stock-based compensation, net of tax
$
5,803

 
$
5,340

 
$
1,215
Schedule of Unrecognized Compensation Cost, Nonvested Awards
The following table presents compensation expense and related tax benefits for restricted stock awards, RSUs and PSUs recognized in the consolidated statements of income, and included as a component of total stock-based compensation in the preceding table:
 
2019
 
2018
 
2017
 
(in thousands)
Compensation expense
$
6,621

 
$
7,124

 
$
4,922

Tax benefit
(1,509
)
 
(1,585
)
 
(1,559
)
Stock-based compensation, net of tax
$
5,112

 
$
5,539

 
$
3,363
Schedule of Share-based Compensation, Stock Options, Activity
The following table provides information about stock option activity for the year ended December 31, 2019:
 
Stock
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
(in millions)
Outstanding and exercisable as of December 31, 2018
658,768

 
$
10.75

 
 
 
 
Exercised
(150,296
)
 
9.73

 
 
 
 
Forfeited
(4,128
)
 
11.31

 
 
 
 
Expired
(4,084
)
 
5.27

 
 
 
 
Outstanding and exercisable as of December 31, 2019
500,260

 
$
11.12

 
3.1 years
 
$
3.2
Schedule of Nonvested Share Activity
The following table provides information about nonvested restricted stock, RSUs and PSUs granted under the Employee Equity Plan and Directors' Plan for the year ended December 31, 2019:
 
 
Restricted Stock/RSUs/PSUs(1)
 
 
Shares
 
Weighted
Average
Grant Date
Fair Value
Nonvested as of December 31, 2018
 
1,368,493

 
$
15.49

Granted
 
454,951

 
15.51

Vested
 
(407,872
)
 
12.38

Forfeited
 
(43,236
)
 
16.61

Nonvested as of December 31, 2019
 
1,372,336

 
$
16.39


(1) There were no nonvested stock options at December 31, 2019 or 2018.
Schedule Of Options Exercised
The following table presents information about stock options exercised:
 
2019
 
2018
 
2017
 
(dollars in thousands)
Number of options exercised
150,296

 
214,845

 
411,292

Total intrinsic value of options exercised
$
1,028

 
$
1,616

 
$
2,955

Cash received from options exercised
$
1,446

 
$
2,210

 
$
4,644

Tax benefit from options exercised
$
188

 
$
291

 
$
989
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The fair value of certain PSUs with market-based performance conditions granted under the Employee Equity Plan was estimated on the grant date using the Monte Carlo valuation methodology performed by a third-party valuation expert. This valuation is dependent upon certain assumptions, as summarized in the following table:
 
2019

 
2018

 
2017

Risk-free interest rate
2.27
%
 
2.63
%
 
1.43
%
Volatility of Corporation’s stock
23.00
%
 
23.50
%
 
22.45
%
Expected life of PSUs
3 Years

 
3 Years

 
3 Years
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions The following table summarizes activity under the ESPP:
 
2019
 
2018
 
2017
ESPP shares purchased
136,576

 
110,200

 
98,000

Average purchase price per share (85% of market value)
$
14.03

 
$
14.74

 
$
15.28

Compensation expense recognized (in thousands)
$
338

 
$
287

 
$
261