Earnings Per Share

6 Months Ended

Jun. 30, 2012

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, 2012 and 2011. 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)	2012		2011		2012		2011
Basic
Net income	$	5,962	$	5,739	$	11,870	$	11,458
Weighted-average common shares
outstanding		10,330,961		10,296,796		10,333,308		10,294,563
Basic earnings per share	$	.58	$	.56	$	1.15	$	1.11
Diluted
Net income	$	5,962	$	5,739	$	11,870	$	11,458
Weighted-average common shares
outstanding		10,330,961		10,296,796		10,333,308		10,294,563
Effect of dilutive restricted stock, stock
options and stock appreciation rights		167,057		142,314		163,345		140,923
Weighted-average common shares
outstanding assuming dilution		10,498,018		10,439,110		10,496,653		10,435,486
Diluted earnings per share	$	.57	$	.55	$	1.13	$	1.10