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Basic and Diluted Earnings Per Share
 12 Months Ended
Dec. 31, 2011
Basic and Diluted Earnings Per Common Share [Abstract]  
BASIC AND DILUTED EARNINGS PER COMMON SHARE

NOTE B – BASIC AND DILUTED EARNINGS PER COMMON SHARE

A reconciliation of the numerators and denominators of basic and diluted earnings per common share for the years ended December 31, 2011, 2010 and 2009 is presented below:

 

                         
    2011     2010     2009  

Basic Earnings Per Common Share

                        

Net income (in thousands)

   $ 3,402     $ 3,098     $ 1,936  
   

 

 

    

 

 

    

 

 

  

Weighted average common shares outstanding

     2,350,180       2,339,490       2,322,642  

Less: Unallocated ESOP shares

     (20,733 )      (27,851 )      (31,090 ) 
   

 

 

    

 

 

    

 

 

  

Weighted average common shares outstanding for basic earnings per common share

     2,329,447       2,311,639       2,291,552  
   

 

 

    

 

 

    

 

 

  

Basic earnings per common share

   $ 1.46     $ 1.34     $ 0.84  
   

 

 

    

 

 

    

 

 

  

Diluted Earnings Per Common Share

                        

Net income (in thousands)

   $ 3,402     $ 3,098     $ 1,936  
   

 

 

    

 

 

    

 

 

  

Weighted average common shares outstanding for basic earnings per common share

     2,329,447       2,311,639       2,291,552  

Add: Dilutive effects of assumed exercises of stock options

     4,378       3,636       349  
   

 

 

    

 

 

    

 

 

  

Average shares and dilutive potential of common shares outstanding

     2,333,825       2,315,275       2,291,901  
   

 

 

    

 

 

    

 

 

  

Diluted earnings per common share

   $ 1.46     $ 1.34     $ 0.84  
   

 

 

    

 

 

    

 

 

  

Stock options for 199,961, 196,394 and 214,822 shares of common stock were not considered in computing diluted earnings per share for 2011, 2010 and 2009, respectively, because they were anti-dilutive.