Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Note 4: Earnings Per Share

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company, such as the Company's dilutive stock options.

The following is a reconciliation of basic and diluted earnings per share for the three and nine months ended September 30, 2012 and 2011:

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2012		2011		2012		2011
Net income	$	3,368	$	3,010	$	9,636	$	8,652
Weighted average common shares outstanding
Basic		3,912,237		3,876,647		3,894,653		3,853,030
Effect of dilutive employee stock options		20,965		12,610		19,787		21,660
Diluted		3,933,202		3,889,257		3,914,440		3,874,690
Anti-dilutive options excluded from
earnings per share calculation		25,500		129,030		30,500		127,030
Per Common Share Data:
Basic earnings per share	$	0.86	$	0.78	$	2.47	$	2.25
Diluted earnings per share	$	0.86	$	0.77	$	2.46	$	2.23