Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

(2) Earnings Per 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 March 31,
	2012		2011
	(Dollars in thousands except per share amounts)
Weighted average shares outstanding used in Basic Earnings per Common Share		7,924,562		7,871,416
Dilutive effect of stock options		1,328		16
Dilutive effect of common stock warrants		—		—
Weighted average shares outstanding used in Diluted Earnings Per Common Share		7,925,890		7,871,432
Net Income	$	1,505	$	1,130
Preferred stock dividend and accretion		319		319
Income Available to Common Shareholders	$	1,186	$	811
Basic Earnings Per Common Share	$	0.15	$	0.10
Diluted Earnings Per Common Share	$	0.15	$	0.10

Options for an aggregate of 232,000 common shares and a common stock warrant for 561,343 shares were considered in computing diluted earnings per common share for the three month period ended March 31, 2012. As of March 31, 2012, stock options of 37,500 were considered dilutive and the remaining stock options and stock warrants were antidilutive. Options for an aggregate of 197,000 common shares and a common stock warrant for 561,343 shares were considered in computing diluted earnings per common share for the three month period ended March 31, 2011. As of March 31, 2011, stock options of 2,500 were considered dilutive and the remaining stock options and stock warrants were considered antidilutive.