Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share

Earnings Per Share

Note 4 – 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 (nonvested 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, 2011			Three Months Ended June 30, 2010
			Per			Per
	Income	Shares	Share	Income	Shares	Share
(In thousands, except per share data)	(Numerator)	(Denominator)	Amount	(Numerator)	(Denominator)	Amount
Basic earnings per share:
Net income applicable to common
stockholders	$       727	3,255	$   0.22	$      305	3,250	$    0.09
Effect of dilutive securities:
Stock options	-	71		-	33
Diluted earnings per share:
Net income applicable to common
stockholders and assumed conversions	$       727	3,326	$   0.22	$      305	3,283	$    0.09
	Six Months Ended June 30, 2011			Six Months Ended June 30, 2010
			Per			Per
	Income	Shares	Share	Income	Shares	Share
(In thousands, except per share data)	(Numerator)	(Denominator)	Amount	(Numerator)	(Denominator)	Amount
Basic earnings per share:
Net income applicable to common
stockholders	$    1,421	3,255	$  0.44	$     948	3,249	$    0.29
Effect of dilutive securities:
Stock options	-	68		-	38
Diluted earnings per share:
Net income applicable to common
stockholders and assumed conversions	$    1,421	3,323	$  0.43	$     948	3,287	$    0.29