Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share

Note 23 — Earnings Per Share

Basic earnings per share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustments to income that would result from assumed issuance. Potential common shares that may be issued by the Company relate solely from outstanding stock options, and are determined using the treasury stock method. Earnings per share have been computed based on the following:

	Three months ended				Six months ended
	June 30,				June 30,
(in thousands)	2011		2010		2011		2010
Net income	$	2,771	$	1,320	$	5,571	$	2,878
Average number of common shares outstanding		15,922		15,860		15,891		15,841
Effect of dilutive stock options		32		248		98		250
Average number of common shares outstanding used to calculate diluted earnings per share		15,954		16,108		15,989		16,091
Options excluded from diluted earnings per share because the effect of these optioins was antidilutive		826		341		795		362