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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2020
Retirement Benefits [Abstract]  
Fair value assumptions of stock options
The following assumptions were used in estimating the fair value for options granted in the first nine months of 2020 and full year 2019:
20202019
Dividend yield3.50 %3.30 %
Risk-free interest rate1.60 %2.60 %
Weighted average expected volatility21.00 %24.00 %
Weighted average expected life5.75 years5.75 years
Weighted average per share fair value of options$2.39$4.00
Summary of company's stock option activities
A summary of the Corporation’s stock option activity for the nine months ended September 30, 2020 is presented below:
Stock Options
Shares(a)
Weighted Average
Exercise Price		Weighted Average Remaining Contractual Term
Aggregate Intrinsic Value(a)
Outstanding at December 31, 20195,543 $20.13 6.25 years$16,043 
Granted1,697 18.43 
Exercised(117)13.89 
Forfeited or expired(306)21.48 
Outstanding at September 30, 20206,817 $19.75 6.47 years$18 
Options Exercisable at September 30, 20204,203 $19.21 5.07 years$18 
(a) In thousands
Summary of restricted stock awards activity (excluding salary shares)
The following table summarizes information about the Corporation’s restricted stock awards activity for the nine months ended September 30, 2020:
Restricted Stock Awards
Shares(a)
Weighted Average
Grant Date Fair Value
Outstanding at December 31, 20192,393 $22.39 
Granted1,043 18.21 
Vested(905)22.64 
Forfeited(146)20.65 
Outstanding at September 30, 20202,385 $20.56 
(a) In thousands