Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 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 June 30,					Six Months Ended June 30,
	2013			2012		2013			2012
Numerator
Net Income	$	1,859		$	704	$	3,512		$	8,640
Preferred Stock Dividends		(594	)		-		(845	)		-
Net Income Available to Common Stockholders - Basic:	$	1,265		$	704	$	2,667		$	8,640
Net Income Available to Common Stockholders - Diluted:	$	1,265		$	704	$	2,667		$	8,640
Denominator
Weighted Average Shares of Common Stock
Outstanding:
Basic		7,239,780			7,203,860		7,226,415			7,187,236
Plus:
Effect of dilutive restrictive stock		23,426			30,645		21,962			15,323
Diluted		7,263,206			7,234,505		7,248,377			7,202,559
Basic Earnings Per Common Share:
Net Income per share – Basic	$	0.17		$	.10	$	0.37		$	1.20
Net Income per share - Diluted:	$	0.17		$	.10	$	0.37		$	1.20

(1)   The Company’s service-based awards of 2,195 shares were anti-dilutive and not included in the total dilutive shares.