Stock Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2021

Stock Compensation Plans

Schedule of Share-based Compensation, Stock Options, Activity

		Shares	Weighted
	Available	Under	Average
	to Grant	Option	Exercise Price
Balance, January 1, 2019	614,850	773,236	$	43.886
Granted from 2018 Plan	(186,400)	186,400		60.086
Exercised	—	(125,894)		33.031
Forfeited from terminated plan(s)	—	(17,424)		44.163
Forfeited from current plan(s)	8,450	(8,450)		55.000
Balance, December 31, 2019	436,900	807,868		49.139
Granted from 2018 Plan	(196,350)	196,350		41.740
Exercised	—	(21,436)		33.805
Forfeited from terminated plan(s)	—	(6,875)		38.849
Forfeited from current plan(s)	4,800	(4,800)		57.513
Balance, December 31, 2020	245,350	971,107		48.079
Granted from 2018 Plan	(202,700)	202,700		57.980
Exercised	—	(91,285)		40.532
Forfeited from terminated plan(s)	—	(5,197)		44.563
Forfeited from current plan(s)	44,022	(44,022)		52.256
Balance, December 31, 2021	86,672	1,033,303	$	50.528

Schedule of Fair Value Option Pricing Model Assumptions

	2021			2020			2019
Expected dividends per share	$	1.44		$	1.36		$	1.36
Risk-free interest rate		1.24	%		0.35	%		1.59	%
Expected life of options		5 years			5 years			5 years
Expected volatility		28.33	%		29.32	%		25.15	%
Weighted average fair value of options granted during year	$	11.56		$	7.30		$	11.20

Schedule of Share-based Compensation, Activity

			Weighted
		Weighted	Average
		Average	Remaining
		Exercise	Contractual
	Options	Price	Term
Options outstanding, January 1, 2021	971,107	48.079	7.23 years
Granted	202,700	57.980
Exercised	(91,285)	40.532
Forfeited	(49,219)	51.444
Options outstanding, December 31, 2021	1,033,303	50.528	7.05 years
Options exercisable, December 31, 2021	421,347	46.804	4.87 years

Schedule of Nonvested Share Activity

		Weighted	Weighted
		Average	Average
		Exercise	Grant Date
	Options	Price	Fair Value
Nonvested options, January 1, 2021	607,412	51,370	8.981
Granted	202,700	57.980	11.560
Vested this period	(156,401)	53.284	9.253
Nonvested options forfeited	(41,755)	51.056	8.952
Nonvested options, December 31, 2021	611,956	53.091	9.768

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable

	Options Outstanding
		Weighted			Options Exercisable
		Average	Weighted			Weighted
		Remaining	Average			Average
	Number	Contractual	Exercise		Number	Exercise
Range of Exercise Prices	Outstanding	Term	Price		Exercisable	Price
$23.860 to 29.640	41,836	1.51 years	$	27.771	41,836	$	27.771
$32.590 to 38.610	52,956	2.82 years		33.072	52,956		33.072
$41.300 to 41.740	243,381	7.66 years		41.618	67,231		41.300
$50.710 to 52.500	172,143	5.11 years		51.677	140,026		51.580
$55.000 to 60.150	522,987	8.28 years		57.883	119,298		57.071
	1,033,303	7.05 years		50.528	421,347		46.804