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Earnings per share
 3 Months Ended
Mar. 31, 2013
Earnings per share

Note 2: Earnings per share

 

Earnings per share were computed as follows:

 

    Three Months Ended March 31,  
    2013     2012  
          Weighted-                 Weighted-        
    Net     Average     Per-Share     Net     Average     Per-Share  
    Income     Shares     Amount     Income     Shares     Amount  
                                     
Basic Earnings Per Share                                                
Net income   $ 1,976       7,037,166             $ 1,426       6,928,238          
Dividends and accretion on preferred stock     (362 )                     (362 )                
Income available to common stockholders     1,614       7,037,166     $ 0.23       1,064       6,928,238     $ 0.15  
Effect of Dilutive securities                                                
Stock options and RRP grants             157,926                       61,227          
Diluted Earnings Per Share                                                
                                                 
Income available to common stockholders and assumed conversions   $ 1,614       7,195,092     $ 0.22     $ 1,064       6,989,465     $ 0.15  

 

 

Options to purchase 240,312 and 429,897 shares of common stock were outstanding at March 31, 2013 and 2012, respectively, but were not included in the computation of diluted EPS above, because the average exercise price of the options was greater than the average market price of the common shares.