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Earnings per Share (Tables)
6 Months Ended
Jun. 30, 2018
Earnings per Share [Abstract]  
Computation of 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,
 
  
2018
  
2017
  
2018
  
2017
 
Net income applicable to common stock
 
$
4,691,000
  
$
3,468,000
  
$
8,938,000
  
$
6,771,000
 
Basic earnings per share computation
                
Weighted average common shares outstanding
  
3,507,242
   
3,514,394
   
3,509,882
   
3,513,925
 
Earnings per share - basic
 
$
1.34
  
$
0.99
  
$
2.55
  
$
1.93
 
Diluted earnings per share computation
                
Weighted average common shares outstanding for basic earnings per share
  
3,507,242
   
3,514,394
   
3,509,882
   
3,513,925
 
Add: Dilutive effects of restricted stock
  
1,467
   
1,188
   
631
   
610
 
Weighted average common shares outstanding for dilutive earnings per share
  
3,508,709
   
3,515,582
   
3,510,513
   
3,514,535
 
Earnings per share - diluted
 
$
1.34
  
$
0.99
  
$
2.55
  
$
1.93