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Computation of Earnings Per Common Share (Tables) | 9 Months Ended
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Sep. 30, 2019
Earnings Per Share [Abstract] |
Computation of earnings per common share | Earnings per common share have been computed based on the following for the:
| Three Months Ended September 30 |  | Nine Months Ended September 30
| 2019 |  | 2018 |  | 2019 |  | 2018
Average number of common shares outstanding for basic calculation | 7,925,332 |  |  | 7,851,448 |  |  | 7,904,568 |  |  | 7,876,941 |
Average potential effect of common shares in the Directors Plan (1) | 181,536 |  |  | 200,597 |  |  | 186,720 |  |  | 199,488 |
Average number of common shares outstanding used to calculate diluted earnings per common share | 8,106,868 |  |  | 8,052,045 |  |  | 8,091,288 |  |  | 8,076,429 |
Net income | $ | 4,442 |  |  | $ | 3,696 |  |  | $ | 12,126 |  |  | $ | 10,491 |
Earnings per common share |  |  |  |  |  |  |
Basic | $ | 0.56 |  |  | $ | 0.47 |  |  | $ | 1.53 |  |  | $ | 1.33 |
Diluted | $ | 0.55 |  |  | $ | 0.46 |  |  | $ | 1.50 |  |  | $ | 1.30 |
(1) | Exclusive of shares held in the Rabbi Trust

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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