Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Calculation of basic and diluted earnings per share

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

	Three Months Ended March 31,
	2013		2012
Numerator
Net Income	$	1,653	$	7,936
Preferred Stock Dividends (1)		251		-
Net Income Available to Common Stockholders - Basic	$	1,402	$	7,936
Net Income Available to Common Stockholders - Diluted	$	1,402	$	7,936
Denominator
Weighted Average Shares of Common Stock
Outstanding:
Basic		7,212,901		7,170,611
Plus:
Effect of dilutive restrictive stock (2)		20,499		-
Diluted		7,233,400		7,170,611
Basic Earnings Per Common Share:
Net Income per share - Basic	$	0.19	$	1.11
Net Income per share - Diluted	$	0.19	$	1.11

(1) Cumulative undeclared dividends as of March 31, 2013.

(2) The Company's relative performance awards of 1,394 shares were anti-dilutive and not included in the total dilutive shares.