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Computation of Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Computation of earnings per common share

Earnings per common share have been computed based on the following for the years ended December 31:

	2019				2018				2017
Average number of common shares outstanding for basic calculation	7,909,794				7,872,077				7,841,451
Average potential effect of common shares in the Directors Plan (1)	185,248				200,771				192,286
Average number of common shares outstanding used to calculate diluted earnings per common share	8,095,042				8,072,848				8,033,737
Net income	$	13,024			$	14,021			$	13,237
Earnings per common share
Basic	$	1.65			$	1.78			$	1.69
Diluted	$	1.61			$	1.74			$	1.65

⁽¹⁾ Exclusive of shares held in the Rabbi Trust

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- References

No definition available.

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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

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