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Common Stock and Earnings per Share (Tables) | 12 Months Ended
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Dec. 31, 2019
Earnings Per Share [Abstract] |
Schedule of Common Stock Outstanding | The table below shows activity in the outstanding shares of the Company’s common stock during 2019.
|  | 2019
Shares outstanding at January 1 |  | 14,611,286 |
Issuance of common stock: |  |  |
Employee restricted stock grants |  | 18,121 |
Employee SARs exercised |  | 27,274 |
Directors’ compensation |  | 12,278 |
Shares repurchased |  | (154,593 | )
Shares outstanding at December 31 |  | 14,514,366 |
Schedule of the Calculations of Basic and Diluted Earnings per Share | The calculations of basic and diluted earnings per share are as follows:
|  | December 31,
(In thousands except share and per share data) |  | 2019 |  | 2018 |  | 2017
Basic: |  |  |  |  |  |  |  |  |
Net income |  | $ | 30,404 |  | $ | 30,268 |  | $ | 25,014
Weighted average common shares outstanding |  |  | 14,434,445 |  |  | 14,675,136 |  |  | 14,700,558
Basic earnings per share |  | $ | 2.11 |  | $ | 2.06 |  | $ | 1.70
Diluted: |  |  |  |  |  |  |  |  |
Net income |  | $ | 30,404 |  | $ | 30,268 |  | $ | 25,014
Weighted average common shares outstanding |  |  | 14,434,445 |  |  | 14,675,136 |  |  | 14,700,558
Effect of dilutive restricted stock, performance based restricted stock (“PBRS”), and SARs |  |  | 257,480 |  |  | 239,066 |  |  | 215,332
Weighted average common shares outstanding assuming dilution |  |  | 14,691,925 |  |  | 14,914,202 |  |  | 14,915,890
Diluted earnings per share |  | $ | 2.07 |  | $ | 2.03 |  | $ | 1.68

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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