Computation of Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Computation of earnings per common share

Earnings per common share have been computed based on the following:

	Three Months Ended   September 30				Nine Months Ended   September 30
	2014		2013		2014		2013
Average number of common shares outstanding for basic calculation	7,733,362		7,698,066		7,725,706		7,689,350
Average potential effect of common shares in the Directors Plan (1)	170,897		170,420		170,955		168,020
Average number of common shares outstanding used to calculate diluted earnings per common share	7,904,259		7,868,486		7,896,661		7,857,370
Net income	$	3,405	$	3,286	$	10,279	$	9,586
Earnings per common share
Basic	$	0.44	$	0.43	$	1.33	$	1.25
Diluted	$	0.43	$	0.42	$	1.30	$	1.22

⁽¹⁾  Exclusive of shares held in the