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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of unvested restricted stock awards
The following tables summarize the unvested restricted stock awards at December 31, 2020 and 2019.
Years Ended December 31,
20202019
Performance AwardsSharesWeighted-
Average 
Grant  Date
Fair Value
SharesWeighted-
Average
Grant Date 
Fair Value
Unvested at beginning58,780 $57.74 98,958 $54.76 
Issued44,741 40.19 43,145 55.76 
Forfeited(8,586)54.89 (65,589)55.25 
Vested(4,293)62.70 (17,734)45.50 
Unvested at end90,642 $49.11 58,780 $57.74 
Years Ended December 31,
20202019
Time Vested AwardsSharesWeighted-
Average
Grant Date 
Fair Value
SharesWeighted-
Average
Grant Date 
Fair Value
Unvested at beginning110,714 $57.84 173,721 $58.93 
Issued176,252 42.51 112,636 55.76 
Forfeited(18,385)50.06 (44,600)58.73 
Vested(50,550)58.76 (131,043)57.20 
Unvested at end218,031 $45.89 110,714 $57.84 
Schedule of activity of stock options Below is a summary of stock option activity for the twelve months ended December 31, 2020, 2019 and 2018. The information excludes restricted stock units and awards.
Years Ended December 31,
202020192018
SharesWeighted-
Average
Exercise 
Price
SharesWeighted-
Average
Exercise
Price
SharesWeighted-
Average
Exercise 
Price
Beginning balance6,589 $19.99 34,123 $14.69 143,224 $9.13 
Issued2,500 47.95 — — — — 
Exercised(3,300)11.40 (26,784)12.42 (108,201)7.17 
Forfeited— — (750)49.08 (900)34 
Ending balance5,789 $36.96 6,589 $19.99 34,123 $14.69 
Schedule of stock option by exercise price range
The following summarizes information about stock options outstanding at December 31, 2020. The information excludes restricted stock units and awards.
Outstanding:Stock Options
Outstanding
Weighted-Average
Exercise Price
Weighted-Average
Remaining
Contractual Life (Years)
Range of Exercise Prices
$5.76 -$10.72— — — 
$10.73 - $11.401,789 $10.73 1.30
$11.41 -$24.86— — — 
$24.87 - $49.914,000 48.69 7.65
5,789 $36.96 5.69
Exercisable:Stock Options
Exercisable
Weighted-Average
Exercise Price
Range of Exercise Prices
$5.76 -$10.72— — 
$10.73 - $11.401,789 $10.73 
$11.41 -$24.86— — 
$24.87 - $49.911,500 49.91 
3,289 $28.60 
Schedule of cash proceeds, tax benefits and intrinsic value related to total stock options exercised The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option pricing model with the assumptions shown in the table below used for the grants during 2020.
Year Ended December 31, 2020
Expected volatility42.3 %
Weighted-Average volatility42.3 %
Expected dividends— 
Expected term (in years)6.5
Risk-free rate1.67 %
Weighted-average fair value (grant date)$21.06 
Cash proceeds, tax benefits and intrinsic value related to total stock options exercised is as follows:
Years Ended December 31,
(dollars in thousands)202020192018
Proceeds from stock options exercised$63 $332 $776 
Tax benefits realized from stock compensation24 50 
Intrinsic value of stock options exercised91 1,022 4,958