Loss Per Common Share

12 Months Ended

Dec. 31, 2012

Loss Per Common Share

Note 19 – Loss Per Common Share

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

	2012			2011
Basic	(Dollars in thousands, except share and per share)
Net income (loss)	$	588		$	(14,255	)
Less: Preferred stock dividends and accretion		(1,281	)		(1,114	)
Loss available to common shareholders	$	(693	)	$	(15,369	)
Weighted average common shares outstanding		1,807,911			1,744,330
Loss per common share - basic	$	(0.38	)	$	(8.81	)
Diluted
Net income (loss)	$	588		$	(14,255	)
Less: Preferred stock dividends and accretion		(1,281	)		(1,114	)
Loss available to common shareholders	$	(693	)	$	(15,369	)
Weighted average common shares outstanding for basic earnings per common share		1,807,911			1,744,330
Add: dilutive effects of assumed exercises of stock options		0			0
Average shares and dilutive potential common shares		1,807,911			1,744,330
Loss per common share - diluted	$	(0.38	)	$	(8.81	)

Stock options for 175,178 shares and 227,075 shares of common stock were not considered in computing diluted earnings per common share for 2012 and 2011, respectively, because they were anti-dilutive.