XML 33 R17.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Common Stock and Earnings per Share | 12 Months Ended
--- | ---
Dec. 31, 2017
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 Company’s common stock during 2017.
| 2017
Shares outstanding at January 1 | 11,188,466 |
10% stock dividend issued December 15, 2017 | 1,116,711 |
Issuance of common stock: |  |
Employee restricted stock grants | 3,825 |
Employee SARs exercised | 7,547 |
Directors’ compensation | 8,389 |
Shares repurchased | (38,042 | )
Shares outstanding at December 31 | 12,286,896 |
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) |  | 2017 |  | 2016 |  | 2015
Basic: |  |  |  |  |  |  |  |  |
Net income |  | $ | 25,014 |  | $ | 24,348 |  | $ | 23,056
Weighted average common shares outstanding |  |  | 12,250,465 |  |  | 12,265,434 |  |  | 12,494,466
Basic earnings per share |  | $ | 2.04 |  | $ | 1.99 |  | $ | 1.85
Diluted: |  |  |  |  |  |  |  |  |
Net income |  | $ | 25,014 |  | $ | 24,348 |  | $ | 23,056
Weighted average common shares outstanding |  |  | 12,250,465 |  |  | 12,265,434 |  |  | 12,494,466
Effect of dilutive restricted stock, PBRS and SARs |  |  | 179,445 |  |  | 172,386 |  |  | 175,784
Weighted average common shares outstanding assuming dilution |  |  | 12,429,910 |  |  | 12,437,820 |  |  | 12,670,250
Diluted earnings per share |  | $ | 2.01 |  | $ | 1.96 |  | $ | 1.82
All share and per share data have been restated to give effect to the 10% stock dividend issued on December 15, 2017.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -URI http://asc.fasb.org/topic&trid=2144383 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration