Earnings Per Common Share

6 Months Ended

Jun. 30, 2013

Disclosure Earning Per Share Additional Information [Abstract]

Earnings Per Common Share

Earnings Per Common Share

Basic earnings per share are computed by dividing income available to common shareholders by the weighted average number of shares outstanding during the year. Diluted earnings per share is computed based on the weighted average number of shares outstanding plus the effects of dilutive stock options and warrants outstanding during the year. Basic and diluted earnings per share are calculated as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
	(Dollars in thousands except per share amounts)
Weighted average shares outstanding used in Basic Earnings per Common Share	9,303,702		7,944,354		8,755,457		7,934,458
Dilutive effect of stock options	15,440		6,174		13,834		3,925
Weighted average shares outstanding used in Diluted Earnings Per Common Share	9,319,142		7,950,528		8,769,291		7,938,383
Net Income	$	1,823	$	1,438	$	2,936	$	2,943
Preferred stock dividend and accretion	117		318		374		637
Income Available to Common Shareholders	$	1,706	$	1,120	$	2,562	$	2,306
Basic Earnings Per Common Share	$	0.18	$	0.14	$	0.29	$	0.29
Diluted Earnings Per Common Share	$	0.18	$	0.14	$	0.29	$	0.29

Options to purchase 339,863 common shares were considered in computing diluted earnings per common share for the three and six month periods ended June 30, 2013. For the three month period stock options of 15,440 common shares were considered dilutive and the remaining stock options were antidilutive for the period ended June 30, 2013. For the six month period stock options of 13,834 common shares were considered dilutive and the remaining stock options were antidilutive for the period ended June 30, 2013. As of June 30, 2012, stock options of 6,174 and 3,925 common shares were considered dilutive and the remaining stock options were antidilutive for the three and six month periods ended June 30, 2012.