EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2011

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 15 -    EARNINGS PER SHARE

Earnings per share for the years ended December 31 were calculated as follows ($000's except share and per share data):

	2011		2010		2009
Net income from continuing operations	$	7,322		9,133		7,687
Income from discontinued operations, net of taxes		793		240		79
Net income		8,115		9,373		7,766
Preferred stock dividends and discount accretion		-		-		1,108
Net income available to common shareholders	$	8,115		9,373		6,658
Weighted average number of shares outstanding used in the calculation of basic earnings per common share		6,692,385		6,687,500		6,687,232
Add dilutive effect of:
Stock options		4,792		3,288		1,368
Stock warrant		54,422		45,834		12,709
Adjusted weighted average number of  shares outstanding used in the calculation of diluted earnings per common share		6,751,599		6,736,622		6,701,309
Basic earnings per common share:
Continuing operations	$	1.09		1.37		0.99
Discontinued operations		0.12		0.03		0.01
Diluted earnings per common share:
Continuing operations		1.08		1.36		0.98
Discontinued operations		0.12		0.03		0.01