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Computation of Earnings Per Common Share
 9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Computation of Earnings Per Common Share
Computation of Earnings Per Common Share
Basic earnings per common share represents income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may be issued relate solely to outstanding shares in the Directors Plan.
 
Three Months Ended 
 September 30
 
Nine Months Ended 
 September 30

2018
 
2017
 
2018
 
2017
Average number of common shares outstanding for basic calculation
7,851,448

 
7,848,317

 
7,876,941

 
7,839,172

Average potential effect of common shares in the Directors Plan (1)
200,597

 
192,572

 
199,488

 
191,548

Average number of common shares outstanding used to calculate diluted earnings per common share
8,052,045

 
8,040,889

 
8,076,429

 
8,030,720

Net income
$
3,696

 
$
3,536

 
$
10,491

 
$
10,516

Earnings per common share
 
 
 
 
 
 
 
Basic
$
0.47

 
$
0.45

 
$
1.33

 
$
1.34

Diluted
$
0.46

 
$
0.44

 
$
1.30

 
$
1.31

(1) 
Exclusive of shares held in the Rabbi Trust