Earnings per Common Share

3 Months Ended

Mar. 31, 2012

Earnings per Common Share [Abstract]

Earnings per Common Share

Note 2. Earnings per Common Share

Basic earnings per common share ("EPS") is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding. Diluted EPS includes any additional common shares as if all potentially dilutive common shares were issued (e.g., stock options). The Corporation's weighted average common shares outstanding for diluted EPS include the effect of stock options and warrants outstanding using the Treasury Stock Method, which are not included in the calculation of basic EPS. There were 79,343 and 102,806 antidilutive stock options shares outstanding for the three months ended March 31, 2012 and March 31, 2011, respectively.

Earnings per common share have been computed based on the following:

	Three Months Ended March 31,
(in thousands, except per share amounts)	2012			2011
Net income	$	4,231		$	3,018
Preferred stock dividends and accretion		(141	)		(146	)
Net income available to common shareholders	$	4,090		$	2,872
Basic weighted average common shares outstanding		16,332			16,290
Plus: effect of dilutive options and warrants		6			11
Diluted weighted average common shares outstanding		16,338			16,301
Earnings per common share:
Basic	$	0.25		$	0.18
Diluted	$	0.25		$	0.18