Earnings Per Share

6 Months Ended

Jun. 30, 2012

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 June 30,				Six months ended June 30,
(in thousands)	2012		2011		2012		2011
Net income	$	5,321	$	2,771	$	9,252	$	5,571
Average number of common shares outstanding		15,986		15,922		15,982		15,891
Effect of dilutive stock options		61		32		63		98
Average number of common shares out standingused to calculate diluted earnings per share		16,047		15,954		16,045		15,989
Options excluded from diluted earnings per share because the effect of these options was antidilutive		1,020		826		944		795