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Common Stock and Earnings per Share | 12 Months Ended
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Dec. 31, 2014
Common Stock and Earnings per Share [Abstract] |
Common Stock and Earnings per Share | Note 9 Common Stock and Earnings per Share The table below shows activity in the outstanding shares of the Co mpany's common stock during 2014. Table of Contents
|  | 2014
Shares outstanding at January 1 |  | 11,521,480 |
Issuance of common stock: |  |  |
Employee restricted stock grants |  | 6,007 |
Employee SARs exercised |  | 8,066 |
Directors' compensation |  | 6,524 |
Shares repurchased |  | (39,502 | )
Shares outstanding at December 31 |  | 11,502,575 |
Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the sum of the weighted average number of common shares outstanding and the weighted average number of potential common shares outstanding. Under the treasury stock method, stock appreciation rights (“SARs”) are dilutive when the average market price of the Company's common stock, combined with the effect of any unamortized compensation expense, exceeds the SAR price during a period. Anti-dilutive shares are those SARs with prices in excess of the current market value. The calculations of basic and diluted earnings per share are as follows:
|  |  | December 31,
(In thousands except share and per share data) |  |  | 2014 |  | 2013 |  | 2012
Basic |  |  |  |  |  |  |
Net income |  |  | $ | 24,033 |  |  | $ | 23,497 |  |  | $ | 23,303 |
Weighted average common shares outstanding |  |  |  | 11,479,025 |  |  |  | 11,441,158 |  |  |  | 11,378,216 |
Basic earnings per share |  |  | $ | 2.09 |  |  | $ | 2.05 |  |  | $ | 2.05 |
Diluted |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  |  | $ | 24,033 |  |  | $ | 23,497 |  |  | $ | 23,303 |
Weighted average common shares outstanding |  |  |  | 11,479,025 |  |  |  | 11,441,158 |  |  |  | 11,378,216 |
Effect of dilutive restricted stock and SARs |  |  |  | 164,954 |  |  |  | 199,581 |  |  |  | 178,998 |
Weighted average common shares outstanding |  |  |  |  |  |  |  |  |  |  |  |  |
assuming dilution |  |  |  | 11,643,979 |  |  |  | 11,640,739 |  |  |  | 11,557,214 |
Diluted earnings per share |  |  | $ | 2.06 |  |  | $ | 2.02 |  |  | $ | 2.02 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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