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Computation of Earnings Per Common Share (Tables)
12 Months Ended
Dec. 31, 2023
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:
202320222021
Average number of common shares outstanding for basic calculation7,511,591 7,549,878 7,853,398 
Average potential effect of common shares in the Directors Plan (1)
34,962 70,329 99,813 
Average potential effect of common shares in the RSP28,939 27,405 12,750 
Average number of common shares outstanding used to calculate diluted earnings per common share7,575,492 7,647,612 7,965,961 
Net income$18,167 $22,238 $19,499 
Earnings per common share
Basic$2.42 $2.95 $2.48 
Diluted$2.40 $2.91 $2.45 
(1) Exclusive of shares held in the Rabbi Trust