EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2012

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 11.  EARNINGS PER SHARE

Details of the computation of earnings per share are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
	(in thousands except per share data)
Basic earnings per share computation:
Net income	$	3,640	$	3,113	$	6,083	$	4,494
Less income allocated to participating awards	23		49		48		70
Net income applicable to common shareholders	$	3,617	$	3,064	$	6,035	$	4,424
Weighted average common shares outstanding	11,562		11,467		11,543		11,459
Basic earnings per share	$	0.31	$	0.27	$	0.52	$	0.39
Diluted earnings per share computation:
Net income	$	3,640	$	3,113	$	6,083	$	4,494
Less income allocated to participating awards	23		49		48		70
Net income applicable to common shareholders	$	3,617	$	3,064	$	6,035	$	4,424
Weighted average common shares outstanding	11,562		11,467		11,543		11,459
Assumed exercise of stock options	24		28		24		27
Assumed satisfaction of RSA conditions	14		—		11		—
Weighted average common shares outstanding	11,600		11,495		11,578		11,486
Diluted earnings per share	$	0.31	$	0.27	$	0.52	$	0.39

For the three months ended June 30, 2012 and 2011, 136,910 and 213,536 shares, respectively, of certain stock-based awards were excluded from the calculation of diluted earnings per share as they were anti-dilutive. For the six months ended June 30, 2012 and 2011, 157,385 and 209,721 shares, respectively, of certain stock-based awards were excluded from the calculation of diluted earnings per share as they were anti-dilutive.