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Earnings per Share (Tables)
3 Months Ended
Mar. 31, 2023
Earnings per Share [Abstract]  
Computation of Earnings per Share

The following table sets forth the computation of earnings per share.

 
Three months ended
 
   
March 31,
 
   
2023
   
2022
 
Net income applicable to common stock
 
$
6,867,000
   
$
6,740,000
 
                 
Basic earnings per share computation
               
Weighted average common shares outstanding
   
3,966,161
     
3,977,911
 
Earnings per share - basic
 
$
1.73
   
$
1.69
 
                 
Diluted earnings per share computation
               
Weighted average common shares outstanding for basic earnings per share
   
3,966,161
     
3,977,911
 
Add: Dilutive effects of restricted stock
   
5
     
57
 
Weighted average common shares outstanding for dilutive earnings per share
   
3,966,166
     
3,977,968
 
Earnings per share - diluted
 
$
1.73
   
$
1.69