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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2012
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Computation of earnings per share
The following table sets forth the computation of earnings per share.  Earnings per share calculations give retroactive effect to stock dividends declared by the Company.
 
 
2012
 
 
2011
 
 
2010
 
 
 
 
 
 
 
 
 
 
 
Net income applicable to common stock
 
$
14,215,000
 
 
$
12,832,000
 
 
$
11,502,000
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic earnings per share computation:
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding
 
 
2,911,885
 
 
 
2,943,028
 
 
 
2,952,041
 
Earnings per share - basic
 
$
4.88
 
 
$
4.36
 
 
$
3.90
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted earnings per share computation:
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding for basic earnings per share
 
 
2,911,885
 
 
 
2,943,028
 
 
 
2,952,041
 
Add: Dilutive effects of restricted stock
 
 
1,642
 
 
 
-
 
 
 
-
 
Weighted average common shares outstanding for dilutive earnings per share
 
 
2,913,527
 
 
 
2,943,028
 
 
 
2,952,041
 
Earnings per share - dilutive
 
$
4.88
 
 
$
4.36
 
 
$
3.90