EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2011

NOTE 8 – EARNINGS PER SHARE

A reconciliation of the numerators and denominators of the earnings per common share and earnings per common share assuming dilution computations for the three and nine months ended September 30, 2011 and 2010 is presented below:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2011		2010		2011		2010
Basic earnings per share
Income available to common stockholders	$	1,508	$	1,800	$	3,597	$	5,694
Weighted average common shares outstanding		7,937		7,937		7,937		7,937
Earnings per share	$	0.19	$	0.23	$	0.45	$	0.72

Diluted earnings per shares
Income available to common stockholders	$	1,508	$	1,800	$	3,597	$	5,694
Weighted average common shares outstanding		7,937		7,937		7,937		7,937
Add dilutive effects of potential additional common stock		106		156		141		210
Weighted average common and dilutive potential common shares outstanding		8,043		8,093		8,078		8,147
Earnings per share assuming dilution	$	0.19	$	0.22	$	0.45	$	0.70

Stock options for 311,049 and 211,049 shares of common stock were not considered in computing diluted earnings per share for the periods ended September 30, 2011 and 2010 because they were antidilutive.