Earnings (Loss) Per Common Share

12 Months Ended

Dec. 31, 2011

Earnings (Loss) Per Common Share [Abstract]

Earnings (Loss) Per Common Share

(2)    Earnings (Loss) Per Common Share

Basic earnings (loss) 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:

	Year Ended December 31,
	2011		2010		2009
	(Dollars in thousands except per share amounts)
Weighted average shares outstanding used in Basic Earnings per Common Share		7,880,249		7,511,173		7,295,663
Dilutive effect of stock options		—		—		—
Dilutive effect of common stock warrants		—		—		—
Weighted average shares outstanding used in Diluted Earnings Per Common Share		7,880,249		7,511,173		7,295,663
Net Income (Loss)	$	5,003	$	5,365	$	(2,001	)
Preferred stock dividend and accretion		1,276		1,276		1,256
Income (Loss) Available to Common Shareholders	$	3,727	$	4,089	$	(3,257	)
Basic Earnings (Loss) Per Common Share	$	0.47	$	0.55	$	(0.45	)
Diluted Earnings (Loss) Per Common Share	$	0.47	$	0.55	$	(0.45	)

All outstanding stock options and common stock warrants were antidilutive for the years ended December 31, 2011 and December 31, 2010. No dilution exists for the year ended December 31, 2009 due to the net loss.