Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2017

Compensation Related Costs [Abstract]

Schedule of Fair Value of Option Grant of Weighted-average Assumptions

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions used for grants during the nine months ended September 30, 2017 and 2016:

	2017			2016
Dividend yield		5.80	%		7.32	%
Expected volatility		26.30	%		26.30	%
Risk-free interest rate		2.37	%		1.49	%
Expected lives		10			8
Estimated forfeitures		-0-			-0-