SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2022

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.

	2022		2021		2020
Basic earnings per share computation:
Net income applicable to common stock	$	29,060,000	$	29,118,000	$	25,103,000
Weighted average common shares outstanding		3,969,722		3,984,085		3,883,027
Earnings per share - basic	$	7.32	$	7.31	$	6.46
Diluted earnings per share computation:
Net income applicable to common stock	$	29,060,000	$	29,118,000	$	25,103,000
Weighted average common shares outstanding for basic earnings per share		3,969,722		3,984,085		3,883,027
Add: Dilutive effects of restricted stock		-		-		1,841
Weighted average common shares outstanding for dilutive earnings per share		3,969,722		3,984,085		3,884,868
Earnings per share - dilutive	$	7.32	$	7.31	$	6.46