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Computation of Earnings Per Common Share (Tables) | 12 Months Ended
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Dec. 31, 2022
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:
| 2022 |  | 2021 |  | 2020
Average number of common shares outstanding for basic calculation | 7,549,878 |  |  | 7,853,398 |  |  | 7,959,705 |
Average potential effect of common shares in the Directors Plan (1) | 70,329 |  |  | 99,813 |  |  | 143,878 |
Average potential effect of common shares in the RSP | 27,405 |  |  | 12,750 |  |  | 2,508 |
Average number of common shares outstanding used to calculate diluted earnings per common share | 7,647,612 |  |  | 7,965,961 |  |  | 8,106,091 |
Net income | $ | 22,238 |  |  | $ | 19,499 |  |  | $ | 10,885 |
Earnings per common share |  |  |  |  |
Basic | $ | 2.95 |  |  | $ | 2.48 |  |  | $ | 1.37 |
Diluted | $ | 2.91 |  |  | $ | 2.45 |  |  | $ | 1.34 |
(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://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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