| Computation of earnings per common share |
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 |
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| | (1) | Exclusive of shares held in the Rabbi Trust
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