Earnings Per Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 5 – EARNINGS PER SHARE

Basic earnings per share are calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period.  Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares (non-vested restricted stock grants and stock options) had been issued, as well as any adjustment to income that would result from the assumed issuance of potential common shares that may be issued by us. Potential common shares related to stock options are determined using the treasury stock method.

	Three Months Ended June 30, 2014					Three Months Ended June 30, 2013
(In thousands, except share and	Income		Shares	Per Share		Loss		Shares	Per Share
per share data)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount
Basic earnings per share:
Net earnings applicable to common shareholders	$	607	4,540,318	$	0.13	$	134	3,293,376	$	0.04
Effect of dilutive securities:
Nonvested stock awards		-	36,832				-	33,237
Diluted earnings per share:
Net income applicable to common shareholders and assumed conversions	$	607	4,577,150	$	0.13	$	134	3,326,613	$	0.04

	Six Months Ended June 30, 2014					Six Months Ended June 30, 2013
(In thousands, except share and	Income		Shares	Per Share		Income		Shares	Per Share
per share data)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount
Basic earnings per share:
Net income applicable to common shareholders	$	1,285	4,533,451	$	0.28	$	232	3,288,582	$	0.07
Effect of dilutive securities:
Nonvested stock awards		-	35,654				-	30,956
Diluted earnings per share:
Net income applicable to common shareholders and assumed conversions	$	1,285	4,569,105	$	0.28	$	232	3,319,538	$	0.07

There were 7,000 and 7,500 shares of unvested restricted stock awards and options outstanding during the three months ended June 30, 2014 and 2013, respectively, which were not included in the computation of diluted EPS because to do so would have been anti-dilutive.  There were 36,043 and 33,340 shares of unvested restricted stock awards and options outstanding during the six months ended June 30, 2014 and 2013, respectively, which were not included in the computation of diluted EPS because to do so would have been anti-dilutive.