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Computation of Earnings Per Common Share
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Computation of Earnings Per Common Share Computation of Earnings Per Common Share
Basic earnings per common share represents income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share includes additional common shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may be issued relate solely to outstanding shares in the Directors Plan and grant awards under the RSP.
Earnings per common share have been computed based on the following for the:
 Three Months Ended 
 March 31
20232022
Average number of common shares outstanding for basic calculation7,556,585 7,533,711 
Average potential effect of common shares in the Directors Plan (1)
49,484 83,538 
Average potential effect of common shares in the RSP28,348 22,439 
Average number of common shares outstanding used to calculate diluted earnings per common share7,634,417 7,639,688 
Net income$5,321 $4,734 
Earnings per common share
Basic$0.70 $0.63 
Diluted$0.70 $0.62 
(1)Exclusive of shares held in the Rabbi Trust