Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Note 8.  Earnings Per Share

We compute basic earnings per share based on the weighted average number of common shares issued and outstanding during the relevant periods.  Diluted earnings per share also reflects dilutive potential common shares, including shares issuable under restricted stock grants using the treasury stock method.

The calculation of basic and diluted earnings per share is as follows (Amountsin thousands except share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Numerator
Net Income - Basic:
	$	704	$	2,838	$	8,640	$	26,918
Net Income  - Diluted:
	$	704	$	2,838	$	8,640	$	26,918
Denominator
Weighted Avg Shares of Common Stock Outstanding:
Basic		7,203,860		7,228,252		7,187,236		7,230,530
Plus:
Effect of dilutive restrictive stock		30,645		36,840		15,323		30,068
Diluted		7,234,505		7,265,092		7,202,559		7,260,598
Basic and Diluted Earnings Per Common Share:
Net Income per share - Basic
	$	.10	$	0.39	$	1.20	$	3.72
Net Income per share - Diluted:
	$	.10	$	0.39	$	1.20	$	3.70