Dividends and Basic Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2014

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 months ended March 31, 2014 and 2013.

(net income in thousands)	2014		2013
Net Income	$	6,282	$	6,251
Average Number of Common Shares Outstanding		777,882		777,882
Basic Earnings Per Common Share Amount	$	8.08	$	8.04