Earnings Per Share

9 Months Ended

Sep. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share

Note 2. Earnings per Share

The following reconciles shares outstanding for basic and diluted earnings per share for the three and nine months ended September 30, 2011 and 2010 (in thousands):

	Three months ended September 30,						Nine months ended September 30,
	2011			2010			2011			2010
Weighted average shares issued net of Treasury shares		18,846			18,823			18,840			18,822
Less: Unallocated ESOP shares		(510	)		(545	)		(519	)		(553	)
Unallocated incentive award shares and shares held by deferred compensation plan		(109	)		(132	)		(131	)		(132	)
Average basic shares outstanding		18,227			18,146			18,190			18,137
Add: Effect of dilutive securities:
Stock options		—			—			—			—
Incentive awards and shares held by deferred compensation plan		49			48			49			49
Average diluted shares outstanding		18,276			18,194			18,239			18,186

For the three months ended September 30, 2011 and 2010, antidilutive stock options of 2,064,000 and 1,876,000, respectively, were excluded from earnings per share calculations. For the nine months ended September 30, 2011 and 2010 antidilutive stock options of 2,042,000 and 1,852,000, respectively, were excluded from earnings per share calculations.