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Earnings per Share | 6 Months Ended
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Jun. 30, 2017
Earnings per Share [Abstract] |
Earnings per Share | Note 2 - Earnings per Share The following table sets forth the computation of earnings per share. Earnings per share calculations give retroactive effect to stock dividends declared by the Company.
|  | Three months ended |  |  | Six months ended |
|  | June 30, |  |  | June 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Net income applicable to common stock |  | $ | 3,468,000 |  |  | $ | 3,031,000 |  |  | $ | 6,771,000 |  |  | $ | 6,314,000 |
Basic earnings per share computation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding |  |  | 3,480,122 |  |  |  | 3,508,818 |  |  |  | 3,479,653 |  |  |  | 3,515,477 |
Earnings per share - basic |  | $ | 1.00 |  |  | $ | 0.86 |  |  | $ | 1.95 |  |  | $ | 1.80 |
Diluted earnings per share computation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding for basic earnings per share |  |  | 3,480,122 |  |  |  | 3,508,818 |  |  |  | 3,479,653 |  |  |  | 3,515,477 |
Add: Dilutive effects of restricted stock |  |  | 1,188 |  |  |  | 409 |  |  |  | 610 |  |  |  | 205 |
Weighted average common shares outstanding for dilutive earnings per share |  |  | 3,481,310 |  |  |  | 3,509,227 |  |  |  | 3,480,263 |  |  |  | 3,515,682 |
Earnings per share - diluted |  | $ | 1.00 |  |  | $ | 0.86 |  |  | $ | 1.95 |  |  | $ | 1.80 |
For the three months ended June 30, 2017 and 2016, there were 1,562 and 4,521 shares, respectively, related to the restricted stock plan that were excluded from the diluted earnings per share calculations since they were anti-dilutive. These anti-dilutive shares had per share prices ranging from $49.87-$53.15 for the three month period ended June 30, 2017 and per share prices ranging from $46.69-$53.15 for the three month period ended June 30, 2016. For the six months ended June 30, 2017 and 2016, 4,921 and 4,521 shares, respectively, related to the restricted stock plan were excluded from the diluted earnings per share calculations since they were anti-dilutive. These anti-dilutive shares had prices ranging from $47.81-$53.15 for the six month period ended June 30, 2017 and prices ranging from $46.69-$53.15 for the six month period ended June 30, 2016.

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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 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1278-109256 Reference 2: 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 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=64863997&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=65016374&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=63488584&loc=d3e20235-122688 + Details
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