Earnings per Share

3 Months Ended

Mar. 31, 2013

Earnings per Share [Abstract]

Earnings per Share

Note 2 - 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.

	Three months ended
	March 31,
	2013		2012
Net income applicable to common stock	$	3,287,000	$	3,449,000
Basic earnings per share computation
Weighted average common shares outstanding		2,889,523		2,924,268
Earnings per share - basic	$	1.14	$	1.18
Diluted earnings per share computation
Weighted average common shares outstanding for basic earnings per share		2,889,523		2,924,268
Add: Dilutive effects of restricted stock		449		165
Weighted average common shares outstanding for dilutive earnings per share		2,889,972		2,924,433
Earnings per share - dilutive	$	1.14	$	1.18

For the three months ended March 31, 2013 and 2012, 147 and 3,073 shares, respectively, related to the restricted stock program were excluded from the diluted earnings per share calculations since they were anti-dilutive.