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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2020
Retirement Benefits [Abstract]  
Fair value assumptions of stock options
The following assumptions were used in estimating the fair value for options granted in the first three months of 2020 and full year 2019:
20202019
Dividend yield3.50 %3.30 %
Risk-free interest rate1.60 %2.60 %
Weighted average expected volatility21.00 %24.00 %
Weighted average expected life5.75 years5.75 years
Weighted average per share fair value of options$2.39$4.00
Summary of company's stock option activities
A summary of the Corporation’s stock option activity for the three months ended March 31, 2020 is presented below:
Stock Options
Shares(a)
Weighted Average
Exercise Price		Weighted Average Remaining Contractual Term
Aggregate Intrinsic Value(a)
Outstanding at December 31, 20195,543  $20.13  6.25 years$16,043  
Granted1,697  18.43  
Exercised(102) 13.98  
Forfeited or expired(159) 22.52  
Outstanding at March 31, 20206,978  $19.75  6.96 years$19  
Options Exercisable at March 31, 20204,090  $19.15  5.37 years$19  
(a) In thousands
Summary of restricted stock awards activity (excluding salary shares)
The following table summarizes information about the Corporation’s restricted stock awards activity for the three months ended March 31, 2020:
Restricted Stock Awards
Shares(a)
Weighted Average
Grant Date Fair Value
Outstanding at December 31, 20192,393  $22.39  
Granted1,018  18.54  
Vested(752) 23.33  
Forfeited(61) 23.12  
Outstanding at March 31, 20202,598  $20.59  
(a) In thousands