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Computation of Earnings Per Common Share (Tables)
12 Months Ended
Dec. 31, 2020
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:
202020192018
Average number of common shares outstanding for basic calculation7,959,705 7,909,794 7,872,077 
Average potential effect of common shares in the Directors Plan (1)
143,878 185,248 200,771 
Average potential effect of common shares in the RSP2,508 — — 
Average number of common shares outstanding used to calculate diluted earnings per common share8,106,091 8,095,042 8,072,848 
Net income$10,885 $13,024 $14,021 
Earnings per common share
Basic$1.37 $1.65 $1.78 
Diluted$1.34 $1.61 $1.74 
(1) Exclusive of shares held in the Rabbi Trust