Note 2 - Earnings Per Share Calculation

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Text Block]

NOTE 2 --  EARNINGS PER SHARE CALCULATION

The following table sets forth the computation for basic and diluted earnings (loss) per share for the periods indicated:

(in thousands, except share data)	Three Months Ended March 31,
	2012		2011
Numerator:
Net income available to common stockholders	$	686	$	1,414
Denominator:
Basic earnings per share - weighted average common shares		3,353,556		3,325,964
Effect of dilutive securities - stock options		-0-		3,445
Diluted earnings per share - adjusted weighted average common shares		3,353,556		3,329,409
Net income (loss) per share available to common stockholders:
Basic	$	0.20	$	0.43
Diluted	$	0.20	$	0.42

The following shares were not considered in computing diluted earnings per share for the three month periods ended March 31, 2012 and 2011 because they were anti-dilutive:

	Three Months Ended March 31,
	2012		2011
Stock options to purchase shares of common stock		360,308		522,511
Average dilutive potential common shares associated with common stock warrants		155,025		155,025