Earnings Per Common Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Common Share

2. Earnings Per Common Share

Basic earnings per common share is based on the weighted average number of common shares outstanding for the three months and six months ended June 30, 2013 and 2012. Diluted earnings per share is based on the weighted average number of common shares outstanding, plus the incremental shares that would have been outstanding upon the assumed conversion of convertible instruments, exercise of all potentially dilutive stock options and other stock units subject to anti-dilution limitations.

The following table sets forth the computation of basic and diluted earnings (loss) per common share:

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Net Income attributable to common stockholders	$	1,063	$	761	$	2,716	$	1,095
Weighted-average basic shares		8,002,872		7,913,266		7,976,222		7,885,458
Basic Earnings per common share	$	0.13	$	0.10	$	0.34	$	0.14
Add back preferred dividends	$	85	$	**	$	170	$	**
Net Income after assumed conversions		1,148		761		2,886		1,095
Dilutive effect of :
Convertible preferred stock		1,000,000		**		1,000,000		**
Stock options and restricted stock units		432,823		333,765		433,315		357,517
Warrants		**		**		**		**
Total weighted-average diluted shares		9,435,695		8,247,031		9,409,537		8,242,975
Diluted earnings per common share	$	0.12	$	0.09	$	0.31	$	0.13

** These items were excluded because they were determined to be non-dilutive during these periods.