Computation of Earnings Per Share
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Computation of Earnings Per Share
Note 2 – Computation of Earnings Per Share
Basic earnings per share represents income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may be issued relate solely to outstanding shares in the Directors Plan, see "Note 17 – Benefit Plans."
Earnings per common share have been computed based on the following:
 
2013
 
2012
 
2011
Average number of common shares outstanding for basic calculation
7,694,392

 
7,604,303

 
7,572,841

Average potential effect of shares in the Directors Plan (1)
168,948

 
195,063

 
194,634

Average number of common shares outstanding used to calculate diluted earnings per common share
7,863,340

 
7,799,366

 
7,767,475

Net income
$
12,510

 
$
12,206

 
$
10,210

Earnings per share
 
 
 
 
 
Basic
$
1.63

 
$
1.61

 
$
1.35

Diluted
$
1.59

 
$
1.56

 
$
1.31

(1) 
Exclusive of shares held in the Rabbi Trust