Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Activity

The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value:

	Nine Months Ended September 30,
Restricted Shares and Performance Based Shares	2022			2021
Expected quarterly dividends per share	$	0.3475		$	0.3275
Risk-free interest rate	1.46		%	0.32		%
Market-Based Shares
Dividend yield	—		%	2.76		%
Expected volatility	—		%	33.69		%
Risk-free interest rate	—		%	0.29		%

The following table summarizes activity in restricted stock awards, including performance-based and market-based shares for the nine months ended September 30, 2022:

	Restricted Stock
	Shares	Weighted- Average Grant Date Fair Value
Outstanding at December 31, 2021	167,270	$	43.71
Granted	193,943	41.04
Released	(172,409)	42.48
Forfeited	(2,709)	42.48
Outstanding at September 30, 2022	186,095	$	42.09

The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares:

	Nine Months Ended September 30,
Restricted Stock	2022		2021
Weighted-average grant date fair value	$	41.04	$	43.48
Total fair value of restricted shares that vested (in thousands)	$	7,804	$	10,018