| Earnings Per Share |
|
Note 22: |
Earnings Per Share |
Earnings per share were computed as follows:
| |
|
2011 |
|
| |
|
Income |
|
|
Weighted-
Average
Shares |
|
|
Per-Share
Amount |
|
| |
|
|
|
|
|
|
|
|
|
| Basic Earnings Per
Share |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
3,484 |
|
|
|
6,907,015 |
|
|
|
|
|
|
Dividends and accretion on preferred stock |
|
|
(2,115 |
) |
|
|
|
|
|
|
|
|
| Income
available to common stockholders |
|
|
1,369 |
|
|
|
6,907,015 |
|
|
$ |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of Dilutive Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock options |
|
|
|
|
|
|
69,619 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted Earnings
Per Share |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income available to common stockholders and assumed
conversions |
|
$ |
1,369 |
|
|
|
6,976,634 |
|
|
$ |
0.20 |
|
| |
|
2010 |
|
| |
|
Income |
|
|
Weighted-
Average
Shares |
|
|
Per-Share
Amount |
|
| |
|
|
|
|
|
|
|
|
|
| Basic Earnings Per
Share |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
6,552 |
|
|
|
6,873,508 |
|
|
|
|
|
|
Dividends and accretion on preferred stock |
|
|
(1,803 |
) |
|
|
|
|
|
|
|
|
| Income
available to common stockholders |
|
|
4,749 |
|
|
|
6,873,508 |
|
|
$ |
0.69 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of Dilutive Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock options |
|
|
|
|
|
|
22,599 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted Earnings
Per Share |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income available to common stockholders and assumed
conversions |
|
$ |
4,749 |
|
|
|
6,896,107 |
|
|
$ |
0.69 |
|
| |
|
2009 |
|
| |
|
Income |
|
|
Weighted-
Average
Shares |
|
|
Per-Share
Amount |
|
| |
|
|
|
|
|
|
|
|
|
| Basic Earnings Per
Share |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
3,163 |
|
|
|
6,840,659 |
|
|
|
|
|
|
Dividends and accretion on preferred stock |
|
|
(1,803 |
) |
|
|
|
|
|
|
|
|
|
Income available to common stockholders |
|
|
1,360 |
|
|
|
6,840,659 |
|
|
$ |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of Dilutive Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock options |
|
|
|
|
|
|
89 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted Earnings
Per Share |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income available to common stockholders and assumed
conversions |
|
$ |
1,360 |
|
|
|
6,840,748 |
|
|
$ |
0.20 |
|
Options to purchase 509,975, 500,788, and 586,988 shares of common
stock were outstanding at December 31, 2011, 2010 and 2009,
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.
Warrants to purchase 625,135 shares of common stock at $7.77 per
share were outstanding at December 31, 2010 and 2009, but were
not included in the computation of diluted EPS because the exercise
price for these options was greater than the average market price
of the underlying shares. As of December 31, 2011 there were no
warrants outstanding.
|