Earnings Per Common Share

6 Months Ended

Jun. 30, 2012

Earnings Per Common Share [Abstract]

Earnings Per Common Share

Note 6. Earnings Per Common Share

A reconciliation of the numerator and denominator used in the earnings per common share calculations is as follows:

	Three Months Ended June 30, 2012
	Income			Shares (In thousands)		Per Share Amount
Basic Earnings Per Common Share:
Net income	$	781			21,272
Less preferred stock dividends		(127	)
Net income applicable to common shareholders		654			21,272	$	.03
Diluted Earnings Per Common Share:
Effect of dilutive stock options					79
Net income applicable to common shareholders	$	654			21,351	$	.03

	Three Months Ended June 30, 2011
	Income			Shares (In thousands)		Per Share Amount
Basic Earnings Per Common Share:
Net income	$	192			22,238
Less preferred stock dividends		(127	)
Net income applicable to common shareholders		65			22,238	$	-
Diluted Earnings Per Common Share:
Effect of dilutive stock options					168
Net income applicable to common shareholders	$	65			22,406	$	-

	Six Months Ended June 30, 2012
	Income			Shares (In thousands)		Per Share Amount
Basic Earnings Per Common Share:
Net income	$	2,438			21,273
Less preferred stock dividends		(254	)
Net income applicable to common shareholders		2,184			21,273	$	.10
Diluted Earnings Per Common Share:
Effect of dilutive stock options					84
Net income applicable to common shareholders	$	2,184			21,357	$	.10

	Six Months Ended June 30, 2011
	Income			Shares (In thousands)		Per Share Amount
Basic Earnings Per Common Share:
Net income	$	661			22,246
Less preferred stock dividends		(254	)
Net income applicable to common shareholders		407			22,246	$	.02
Diluted Earnings Per Common Share:
Effect of dilutive stock options					127
Net income applicable to common shareholders	$	407			22,373	$	.02

The assumed conversion of the Company's Series D Preferred Stock was excluded from the earnings per common share calculation for all periods presented since its impact would have been antidilutive.