Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings per Share [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.

	Three months ended
	March 31,
	2019		2018
Net income applicable to common stock	$	4,405,000	$	4,247,000
Basic earnings per share computation
Weighted average common shares outstanding		3,494,010		3,512,552
Earnings per share - basic	$	1.26	$	1.21
Diluted earnings per share computation
Weighted average common shares outstanding for basic earnings per share		3,494,010		3,512,552
Add: Dilutive effects of restricted stock		-		363
Weighted average common shares outstanding for dilutive earnings per share		3,494,010		3,512,915
Earnings per share - diluted	$	1.26	$	1.21