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Earnings Per Share
 12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 14 – EARNINGS PER SHARE

The following table sets forth the computations of basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income

 

 

Shares

 

 

Per Share

(In thousands, except share and per share data)

 

(Numerator)

 

 

(Denominator)

 

 

Amount

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2012:

 

 

 

 

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

 

 

Net income applicable to common stockholders

$
735 

 

 
3,261,809 

 

$
0.23 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Unvested stock awards

 

-

 

 
25,208 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

Net income applicable to common stockholders and assumed conversions

 

 

 

 

 

 

 

 

 

$
735 

 

 
3,287,017 

 

$
0.22 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2011:

 

 

 

 

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

 

 

Net income applicable to common stockholders

$
2,470 

 

 
3,256,183 

 

$
0.76 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Unvested stock awards

 

-

 

 
71,196 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

Net income applicable to common stockholders and assumed conversions

 

 

 

 

 

 

 

 

 

$
2,470 

 

 
3,327,379 

 

$
0.74 

 

Options to purchase 55,751 and 111,034 shares of common stock were outstanding during December 31, 2012 and 2011, respectively, but were not included in the computation of diluted EPS because the options’ exercise price was greater than the average market price of the common shares.