Dividends and Basic Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2016

Dividends and Basic Earnings Per Common Share [Abstract]

Calculation of Basic Earnings per Share

The following table calculates the basic earnings per common share for the three and six months ended September 30, 2016 and 2015.

	Three Months Ended September 30,				Nine Months Ended September 30,
(net income in thousands)	2016		2015		2016		2015
Net Income	$	7,538	$	7,040	$	22,042	$	20,192
Weighted Average Number of Common Shares Outstanding		792,387		785,852		792,223		785,668
Basic Earnings Per Common Share Amount	$	9.51	$	8.96	$	27.82	$	25.70