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Basic and Diluted Earnings Per Common Share
 12 Months Ended
Dec. 31, 2012
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, 2012, 2011 and 2010 is presented below:

 

                         
    2012     2011     2010  

Basic Earnings Per Common Share

                        
       

Net income (in thousands)

   $ 4,350     $ 3,402     $ 3,098  
   

 

 

    

 

 

    

 

 

  
       

Weighted average common shares outstanding

     2,374,831       2,350,180       2,339,490  
       

Less: Unallocated ESOP shares

     (11,839 )      (20,733 )      (27,851 ) 
   

 

 

    

 

 

    

 

 

  
       

Weighted average common shares outstanding for basic earnings per common share

     2,362,992       2,329,447       2,311,639  
   

 

 

    

 

 

    

 

 

  
       

Basic earnings per common share

   $ 1.84     $ 1.46     $ 1.34  
   

 

 

    

 

 

    

 

 

  
       

Diluted Earnings Per Common Share

                        
       

Net income (in thousands)

   $ 4,350     $ 3,402     $ 3,098  
   

 

 

    

 

 

    

 

 

  
       

Weighted average common shares outstanding for basic earnings per common share

     2,362,992       2,329,447       2,311,639  
       

Add: Dilutive effects of assumed exercises of stock options

     6,298       4,378       3,636  
   

 

 

    

 

 

    

 

 

  
       

Average shares and dilutive potential of common shares outstanding

     2,369,290       2,333,825       2,315,275  
   

 

 

    

 

 

    

 

 

  
       

Diluted earnings per common share

   $ 1.84     $ 1.46     $ 1.34  
   

 

 

    

 

 

    

 

 

  

Stock options for 185,426, 199,961 and 196,394 shares of common stock were not considered in computing diluted earnings per share for 2012, 2011 and 2010, respectively, because they were anti-dilutive.