Dividends and Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2012

Dividends and Basic Earnings Per Common Share [Abstract]

Calculation of basic earnings per common share

Basic earnings per common share amounts are computed by dividing net income by the weighted average number of common shares outstanding for the period. The following table calculates the basic earnings per common share for the three and nine months ended September 30, 2012 and 2011.

	Three Months				Nine Months
	Ended September 30,				Ended September 30,
(net income in thousands)	2012		2011		2012		2011
Net Income	$	6,332	$	6,267	$	17,684	$	16,548
Average Number of Common Shares Outstanding		778,487		779,424		779,906		779,424
Basic Earnings Per Common Share	$	8.13	$	8.04	$	22.70	$	21.23