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Shareholders Equity:
6 Months Ended
Jun. 30, 2011
Shareholders' Equity: [Abstract]  
Shareholders' Equity:
Shareholders’ Equity:
The Company successfully completed a rights and public offering of 5,000,000 common shares in January 2011. As part of this rights offering the Company issued 2,946,864 shares of authorized but unissued shares and reissued 2,053,136 shares of treasury stock. Total proceeds from the offering net of offering costs of $1.2 million were $13.8 million. Since the Company’s cost basis of the treasury shares was greater than the price paid for stock issued in the rights offering, the difference of $19.3 million was recorded as a reduction to retained earnings. Other changes to retained earnings for the six months ended June 30, 2011 were net income of $3.8 million and partially offset by dividends paid to shareholders of $1.1 million. In addition to the rights and public offering, common stock increased by $255 thousand during the six months ended June 30, 2011 due to the issuance of 54,418 shares of stock through the Company’s dividend reinvestment program. Accumulated other comprehensive income increased $3,8 million from December 31, 2010 to June 30, 2011 due to the after tax impact of increases in fair value of securities available for sale during that period.