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Dividends and Basic Earnings Per Common Share
 12 Months Ended
Dec. 31, 2017
Dividends and Basic Earnings Per Common Share [Abstract]  
Dividends and Basic Earnings Per Common Share
16.
Dividends and Basic Earnings Per Common Share

Total cash dividends during 2017 were $10,982,000 or $13.55 per share of common stock, an increase of 3.4% per share from $10,478,000 or $13.10 per share in 2016. In 2015, cash dividends totaled $10,157,000 or $12.90 per 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 periods indicated.

(net income in thousands)
 
2017
  
2016
  
2015
 
Net Income
 
$
28,370
  
$
29,723
  
$
27,392
 
Weighted Average Number of Common Shares Outstanding
  
809,834
   
793,970
   
786,582
 
Basic Earnings Per Common Share
 
$
35.03
  
$
37.44
  
$
34.82