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Stock-Based Incentive Plan (Tables)
 9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Status of Options Granted Under Long-Term Incentive Plan
The following is a summary of the Corporation's stock option activity and related information for the nine months ended September 30, 2020:
(Dollars in thousands, except per share data)Shares Under OptionWeighted Average Exercise Price Per ShareWeighted Average Remaining Contractual Life (Years)Aggregate Intrinsic Value at September 30, 2020
Outstanding at December 31, 2019508,111 $24.83 
Expired(2,000)28.33 
Forfeited(19,018)24.70 
Exercised(5,000)18.70 
Outstanding at September 30, 2020482,093 24.88 5.9$— 
Exercisable at September 30, 2020428,615 24.43 5.7— 
Summary of Nonvested Stock Options
The following is a summary of nonvested stock options at September 30, 2020 including changes during the nine months then ended:
(Dollars in thousands, except per share data) Nonvested Stock Options Weighted Average Grant Date Fair Value
Nonvested stock options at December 31, 2019163,261 $6.54 
Vested(106,131)6.58 
Forfeited(3,652)6.50 
Nonvested stock options at September 30, 202053,478 6.46 
Summary of Nonvested Restricted Stock Awards and Units
The following is a summary of nonvested restricted stock awards and nonvested restricted stock units at September 30, 2020 including changes during the nine months then ended:
(Dollars in thousands, except per share data) Nonvested Stock Awards and Units Weighted Average Grant Date Fair Value
Nonvested stock awards and units at December 31, 2019209,378 $26.76 
Granted179,080 18.62 
Vested(59,855)27.17 
Cancelled(20,993)27.17 
Nonvested stock awards and units at September 30, 2020307,610 21.91 
Certain Information Regarding Restricted Stock
Certain information regarding restricted stock awards and units is summarized below for the periods indicated:
Nine Months Ended September 30,
(Dollars in thousands, except per share data)20202019
Restricted stock awards and units granted179,080 113,729 
Weighted average grant date fair value$18.62 $25.66 
Intrinsic value of awards granted$3,335 $2,901 
Restricted stock awards and units vested59,855 44,807 
Weighted average grant date fair value$27.17 $21.65 
Intrinsic value of awards vested$1,375 $1,119 
Schedule of Unrecognized Compensation Cost, Nonvested Awards
The total unrecognized compensation expense and the weighted average period over which unrecognized compensation expense is expected to be recognized related to nonvested stock options and nonvested restricted stock awards and units at September 30, 2020 is presented below:
(Dollars in thousands)Unrecognized Compensation CostWeighted-Average Period Remaining (Years)
Stock options$147 0.5
Restricted stock awards and units4,058 2.0
$4,205 1.9
Compensation Expense Related to Stock Incentive Plans Recognized
The following table presents information related to the Corporation’s compensation expense related to stock incentive plans recognized for the periods indicated:
Nine Months Ended September 30,
(Dollars in thousands)20202019
Stock-based compensation expense:
Stock options$274 $546 
Restricted stock awards and units1,579 1,372 
Employee stock purchase plan65 54 
Total$1,918 $1,972 
Tax benefit on nonqualified stock option expense, restricted stock awards and disqualifying dispositions of incentive stock options$375 $444