Earnings per Share

3 Months Ended

Mar. 31, 2014

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,
	2014	2013
Net income applicable to common stock	$3,176,000	$3,287,000
Basic earnings per share computation
Weighted average common shares outstanding	3,012,204	3,033,716
Earnings per share - basic	$1.05	$1.08
Diluted earnings per share computation
Weighted average common shares outstanding for basic earnings per share	3,012,204	3,033,716
Add: Dilutive effects of restricted stock	194	449
Weighted average common shares outstanding for dilutive earnings per share	3,012,398	3,034,165
Earnings per share - dilutive	$1.05	$1.08

For the three months ended March 31, 2014 and 2013, there were 2,581 and 147 shares, respectively, related to the restricted stock program that were excluded from the diluted earnings per share calculations since they were anti-dilutive. These anti-dilutive shares had prices ranging from $37.35-$50.15 for the period ended March 31, 2014 and a price of $26.80 for the period ended March 31, 2013.