Earnings Per Common Share

9 Months Ended

Sep. 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 quarter and year-to-date. 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 quarter and year-to-date. Basic and diluted earnings per share are calculated as follows:

	Three Months Ended September 30,				Nine Months Ended September 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		8,940,213		7,937,781
Dilutive effect of stock options	19,955		4,764		16,967		4,209
Weighted average shares outstanding used in Diluted Earnings Per Common Share	9,323,657		7,949,118		8,957,180		7,941,990
Net Income	$	1,519	$	1,525	$	4,455	$	4,468
Preferred stock dividend and accretion	109		319		483		956
Income Available to Common Shareholders	$	1,410	$	1,206	$	3,972	$	3,512
Basic Earnings Per Common Share	$	0.15	$	0.15	$	0.44	$	0.44
Diluted Earnings Per Common Share	$	0.15	$	0.15	$	0.44	$	0.44

For the three and nine month periods ended September 30, 2013 and 2012, approximately 194,500 of options to purchase shares of common stock were not included in the computation of diluted earnings per share because the effect would be antidilutive.