Stock Based Compensation (Tables)

6 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [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 six months ended June 30, 2018 and 2017:

	2018			2017
Dividend yield		4.77	%		5.80	%
Expected volatility		25.83	%		26.30	%
Risk-free interest rate		2.73	%		2.37	%
Expected lives		10			10
Estimated forfeitures		-0-			-0-