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Computation of Earnings Per Common Share (Tables)
12 Months Ended
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:
202220212020
Average number of common shares outstanding for basic calculation7,549,878 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 RSP27,405 12,750 2,508 
Average number of common shares outstanding used to calculate diluted earnings per common share7,647,612 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