Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2015

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,
	2015	2014
Net income applicable to common stock	$3,120,000	$3,176,000

Basic earnings per share computation
Weighted average common shares outstanding	3,026,265	3,041,923
Earnings per share - basic	$1.03	$1.04

Diluted earnings per share computation
Weighted average common shares outstanding for basic earnings per share	3,026,265	3,041,923
Add: Dilutive effects of restricted stock	-	194
Weighted average common shares outstanding for dilutive earnings per share	3,026,265	3,042,117
Earnings per share - dilutive	$1.03	$1.04