Common Stock and Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Schedule of Common Stock Outstanding

The table below shows activity in the outstanding shares of the Company’s common stock during 2016.

	2016
Shares outstanding at January 1	11,332,272
Issuance of common stock:
Employee restricted stock grants	15,455
Employee SARs exercised	20,761
Directors’ compensation	9,029
Shares repurchased	(187,123	)
Shares forfeited	(1,928	)
Shares outstanding at December 31	11,188,466

Schedule of the Calculations of Basic and Diluted Earnings per Share

The calculations of basic and diluted earnings per share are as follows:

	December 31,
(In thousands except share and per share data)	2016		2015		2014
Basic:
Net income	$	24,348	$	23,056	$	24,033
Weighted average common shares outstanding		11,150,395		11,358,609		11,479,025
Basic earnings per share	$	2.18	$	2.03	$	2.09
Diluted:
Net income	$	24,348	$	23,056	$	24,033
Weighted average common shares outstanding		11,150,395		11,358,609		11,479,025
Effect of dilutive restricted stock and SARs		156,729		159,819		164,954
Weighted average common shares outstanding
assuming dilution		11,307,124		11,518,428		11,643,979
Diluted earnings per share	$	2.15	$	2.00	$	2.06