Earnings Per Share

6 Months Ended

Jun. 30, 2012

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, 2012					Three Months Ended June 30, 2011
					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
Shareholders	$	481	3,257	$	0.15	$	727	3,255	$	0.22
Effect of dilutive securities:
Nonvested stock awards		-	84				-	71
Diluted earnings per share:
Net income applicable to common
shareholders and assumed conversions	$	481	3,341	$	0.14	$	727	3,326	$	0.22

		Six Months Ended June 30, 2012					Six Months Ended June 30, 2011
					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
shareholders	$	286	3,259	$	0.09	$	1,421	3,255	$	0.44
Effect of dilutive securities:
Nonvested stock awards		-	82				-	68
Diluted earnings per share:
Net income applicable to common
shareholders and assumed conversions	$	286	3,341	$	0.09	$	1,421	3,323	$	0.43

Options to purchase 83,371 and 116,075 shares of common stock were outstanding at June 30, 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.