Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 3 – Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the sum of the weighted-average number of common shares outstanding and the weighted-average number of potential common shares outstanding. There were no anti-dilutive shares in the three-month and six-month periods ended June 30, 2011 and 2010. The calculations of basic and diluted earnings per share are as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands except share and per share data)	2011		2010		2011		2010
Basic
Net income	$	5,739	$	4,900	$	11,458	$	9,649
Weighted-average common shares outstanding		9,360,724		9,334,847		9,358,694		9,331,789
Basic earnings per share	$	.61	$	.52	$	1.22	$	1.03
Diluted
Net income	$	5,739	$	4,900	$	11,458	$	9,649
Weighted-average common shares outstanding		9,360,724		9,334,847		9,358,694		9,331,789
Effect of dilutive restricted stock, stock
options and stock appreciation rights		129,376		107,759		128,111		100,165
Weighted-average common shares outstanding
assuming dilution		9,490,100		9,442,606		9,486,805		9,431,954
Diluted earnings per share	$	.61	$	.52	$	1.21	$	1.02