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Earnings per Share (Tables)
6 Months Ended
Jun. 30, 2019
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,
 
  
2019
  
2018
  
2019
  
2018
 
Net income applicable to common stock
 
$
4,846,000
  
$
4,691,000
  
$
9,251,000
  
$
8,938,000
 
Basic earnings per share computation
                
Weighted average common shares outstanding
  
3,523,135
   
3,541,703
   
3,525,788
   
3,544,343
 
Earnings per share - basic
 
$
1.38
  
$
1.32
  
$
2.62
  
$
2.52
 
Diluted earnings per share computation
                
Weighted average common shares outstanding for basic earnings per share
  
3,523,135
   
3,541,703
   
3,525,788
   
3,544,343
 
Add: Dilutive effects of restricted stock
  
1,382
   
1,467
   
695
   
631
 
Weighted average common shares outstanding for dilutive earnings per share
  
3,524,517
   
3,543,170
   
3,526,483
   
3,544,974
 
Earnings per share - diluted
 
$
1.38
  
$
1.32
  
$
2.62
  
$
2.52