Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Payment Award, Valuation Assumptions

The following table includes the weighted- average assumptions used in estimating the fair values and the resulting weighted-average fair value of stock options granted in the periods presented:

	Year Ended December 31,
	2019			2018			2017
Weighted average fair values of stock options granted	$	12.68		$	11.80		$	15.38
Expected volatility	36.0		%	35.7		%	37.9		%
Expected dividends	.65		%	.70		%	.56		%
Weighted average risk-free interest rate	1.72		%	2.47		%	1.64		%
Expected life of stock options (in years)	3.5			3.5			3.5

Schedule of Stock Options Activity

A summary of stock option activity for the years ended December 31, 2019, 2018, and 2017 is as follows:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
						(In thousands)
Outstanding at January 1, 2017	109,499		$	30.73	3.28	$	2,882
Granted	42,000		$	53.90
Exercised	(3,500	)	$	14.90
Canceled	—		$	—
Outstanding at December 31, 2017	147,999		$	37.68	2.94	$	6,152
Granted	42,000		$	42.56
Exercised	(27,999	)	$	15.65
Canceled	—		$	—
Outstanding at December 31, 2018	162,000		$	42.75	3.05	$	—
Granted	66,000		$	46.75
Exercised	—		$	—
Canceled	(10,125	)	$	46.66
Outstanding at December 31, 2019	217,875		$	43.78	2.60	$	—
Exercisable at December 31, 2019	109,125		$	40.92	1.41	$	—

Schedule of Nonvested Share Activity

A summary of non-vested options and changes for the years ended December 31, 2019, 2018 and 2017 is as follows:

	Non-Vested Number of Shares		Weighted Average Exercise Price
Non-vested balance at January 1, 2017	74,625		$	36.35
Granted	42,000		$	53.90
Vested	(40,125	)	$	32.54
Canceled	—		$	—
Non-vested balance at December 31, 2017	76,500		$	47.99
Granted	42,000		$	42.56
Vested	(36,750	)	$	43.52
Canceled	—		$	—
Non-vested balance at December 31, 2018	81,750		$	47.21
Granted	66,000		$	46.75
Vested	(28,875	)	$	48.46
Canceled	(10,125	)	$	46.66
Non-vested balance at December 31, 2019	108,750		$	46.65

Schedule of Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding by price range as of December 31, 2019:

	Options Outstanding				Options Exercisable
Exercise Prices	Number Outstanding	Weighted-Average Remaining Contractual Life (Years)	Weighted-Average Exercise Price		Number of Shares	Weighted-Average Exercise Price
$21.19	30,000	0.00	$	2.92	30,000	$	5.83
$28.59	6,000	0.01	$	0.79	6,000	$	1.57
$41.60	36,000	0.62	$	6.87	—	$	—
$42.56	36,000	0.66	$	7.03	9,000	$	3.50
$49.22	40,875	0.25	$	9.23	38,625	$	17.42
$52.92	30,000	0.61	$	7.29	—	$	—
$53.90	39,000	0.45	$	9.65	25,500	$	12.60
	217,875	2.60	$	43.78	109,125	$	40.92

Schedule of Nonvested Restricted Stock Activity

A summary of the status of the Company’s non-vested restricted stock grant shares is presented in the following table:

	Shares		Weighted-Average Grant Date Fair Value
Non-vested at January 1, 2017	123,654		$	31.17
Granted	56,251		$	56.75
Vested	(72,810	)	$	29.50
Forfeited	—		$	—
Non-vested at December 31, 2017	107,095		$	45.74
Granted	5,623		$	76.47
Vested	(68,788	)	$	40.67
Forfeited	(3,514	)	$	46.24
Non-vested at December 31, 2018	40,416		$	58.60
Granted	91,658		$	50.54
Vested	(24,120	)	$	57.14
Forfeited	—		$	—
Non-vested at December 31, 2019	107,954		$	52.08