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Stock Options and Other Equity-Based Incentive Instruments (Tables)
12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Stock Option Activity
Stock option activity is summarized in the following table for the dates indicated:
Number of
Shares
Option Price
per Share
Weighted
Average
Exercise
Price
Outstanding at January 1, 2019343,000 
$12.63 to $23.21
$16.67 
Options granted— — — 
Options exercised(182,500)
$12.63 to $19.46
$16.00 
Options forfeited— — — 
Outstanding at December 31, 2019160,500 
$12.63 to $23.21
$17.60 
Options granted— — — 
Options exercised(32,000)
$14.54 to $19.46
$17.10 
Options forfeited— — $— 
Outstanding at December 31, 2020128,500 
$14.54 to $23.21
$17.72 
Summary of Options Outstanding
The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of December 31, 2020:
Currently
Exercisable
Currently Not
Exercisable
Total
Outstanding
Number of options128,500 — 128,500 
Weighted average exercise price$17.72 $— $17.72 
Intrinsic value (in thousands)$2,277 $— $2,277 
Weighted average remaining contractual term (yrs.)1.98— 1.98
Information about Options
The following table shows the total intrinsic value of options exercised, the total fair value of options vested, total compensation costs for options recognized in income, total tax benefit and excess tax benefits recognized in income related to compensation costs for options during the periods indicated:
 Year Ended December 31,
 202020192018
Intrinsic value of options exercised$403,000 $4,169,000 $2,109,000 
Fair value of options that vested$— $— $75,000 
Total compensation costs for options recognized in expense$— $— $75,000 
Total tax benefit recognized in income related to compensation costs for options$— $— $22,000 
Excess tax benefit recognized in income$— $1,233,000 $623,000 
Restricted Stock Unit (RSU) Activity
Restricted stock unit activity is summarized in the following table for the dates indicated:
 Service Condition Vesting RSUsMarket Plus Service Condition
Vesting RSUs
 Number
of RSUs
Weighted Average
Fair Value on
Date of Grant
Number of
RSUs
Weighted Average
Fair Value on
Date of Grant
Outstanding at January 1, 202068,597 51,312 
RSUs granted64,036 $31.26 46,416 $23.30 
Additional market plus service condition RSUs vested— 5,847 
RSUs added through dividend credits2,937 — 
RSUs released through vesting(34,388)(20,265)
RSUs forfeited/expired(1,373)(1,695)
Outstanding at December 31, 202099,809 81,615 
Summary of Compensation Costs and Excess Tax Benefits for RSUs
The following table shows the compensation costs and excess tax benefits for RSUs recognized in income for the periods indicated:
 Year Ended December 31,
 202020192018
Total compensation costs recognized in income
Service condition vesting RSUs$1,390,000 $1,161,237 $1,017,000 
Market plus service condition vesting RSUs$646,000 $493,000 $370,000 
Excess tax benefit recognized in income
Service condition vesting RSUs$372,000 $141,000 $104,000 
Market plus service condition vesting RSUs$194,000 $146,000 $191,000