Earnings Per Common Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Share

The calculations of basic and diluted earnings per share were as follows:  

	Three Months Ended
	March 31,
(Dollars in thousands, except per share data)	2013		2012
Distributed earnings allocated to shareholders	$	1,275	$	1,165
Undistributed earnings allocated to shareholders	3,702		5,458
Net earnings allocated to shareholders	$	4,977	$	6,623
Weighted-average shares outstanding	10,556,261		10,513,388
Effect of potentially dilutive shares	15,122		—
Total weighted-average diluted shares outstanding	10,571,383		10,513,388
Earnings per share:
Basic	$	0.47	$	0.63
Diluted	$	0.47	$	0.63

Stock options and SARs covering an aggregate of 116,566 and 188,212 common shares were excluded from the calculations for the three months ended March 31, 2013 and 2012, respectively, since they were anti-dilutive.