EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2012

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

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, 2012 and 2011 is presented below:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Basic earnings per share
Income available to common stockholders	$	3,018	$	1,508	$	7,329	$	3,597
Weighted average common shares outstanding		7,937,814		7,937,143		7,937,368		7,937,143
Earnings per share	$	0.38	$	0.19	$	0.92	$	0.45
Diluted earnings per share
Income available to common stockholders	$	3,018	$	1,508	$	7,329	$	3,597
Weighted average common shares outstanding		7,937,814		7,937,143		7,937,368		7,937,143
Add dilutive effects of potential additional common stock		279,358		105,421		191,615		141,011
Weighted average common and dilutive potential common shares outstanding		8,217,172		8,042,564		8,128,983		8,078,155
Earnings per share assuming dilution	$	0.37	$	0.19	$	0.90	$	0.45

Stock options for 304,649 and 311,049 shares of common stock were not considered in computing diluted earnings per share for the nine months ended September 30, 2012 and 2011 because they were antidilutive. Stock options for 180,699 and 357,649 shares of common stock were not considered in computing diluted earnings per share for the three months ended September 30, 2012 and 2011 because they were antidilutive.