Earnings (Loss) Per Common Share

12 Months Ended

Dec. 31, 2011

Earnings (Loss) Per Common Share [Abstract]

Earnings (Loss) Per Common Share

Note 18 – Earnings (Loss) Per Common Share

The factors used in the earnings (loss) per common share computation follow:

	2011			2010
	(Dollars in thousands, except share and per share)
Basic
Net earnings (loss)	$	(9,517	)	$	1,915
Less: Preferred stock dividends and accretion		(1,115	)		(1,145	)
Earnings (loss) available to common stockholders	$	(10,632	)	$	770
Weighted average common shares outstanding		1,744,330			1,743,728
Basic earnings (loss) per common share	$	(6.10	)	$	0.44
Diluted
Net earnings (loss)	$	(9,517	)	$	1,915
Less: Preferred stock dividends and accretion		(1,115	)		(1,145	)
Earnings (loss) available to common stockholders	$	(10,632	)	$	770
Weighted average common shares outstanding for basic earnings per common share		1,744,330			1,743,728
Add: dilutive effects of assumed exercises of stock options		-			831
Average shares and dilutive potential common shares		1,744,330			1,744,559
Diluted earnings (loss) per common share	$	(6.10	)	$	0.44

Stock options for 227,075 shares of common stock were not considered in computing diluted earnings per common share for 2011 and 2010 because they were anti-dilutive.