XML 41 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2012
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE
NOTE 4—EARNINGS PER SHARE

The following tables illustrate the reconciliation of the numerators and denominators of the basic and diluted earnings per share computations (dollars in thousands, except share and per share data):

   
For the three months ended September 30, 2012
 
      
Weighted
    
      
average
    
   
Income
  
shares
  
Per share
 
   
(numerator)
  
(denominator)
  
Amount
 
Basic earnings per share
         
Income available to common stockholders
 $1,473   2,728,534  $0.54 
Effect of dilutive securities
            
Stock options and grants
  —   3,119   — 
              
Diluted earnings per share
            
Income available to common stockholders plus effect of dilutive securities
 $1,473   2,731,653  $0.54 
 
 
              
   
For the nine months ended September 30, 2012
 
       
Weighted
     
       
average
     
   
Income
  
shares
  
Per share
 
   
(numerator)
  
(denominator)
  
Amount
 
Basic earnings per share
            
Income available to common stockholders
 $3,877   2,723,703  $1.42 
Effect of dilutive securities
            
Stock options and grants
  —   3,668   — 
              
Diluted earnings per share
            
Income available to common stockholders plus effect of dilutive securities
 $3,877   2,727,371  $1.42 
 
There were 65,337 options to purchase shares of common stock with exercise prices ranging from $23.53 to $32.51 per share which were outstanding during the three and nine months ended September 30, 2012 that were not included in the computation of diluted earnings per share because the options' exercise prices were greater than the average market price of the common shares.
 
   
For the three months ended September 30, 2011
 
      
Weighted
    
      
average
    
   
Income
  
shares
  
Per share
 
   
(numerator)
  
(denominator)
  
Amount
 
Basic earnings per share
         
Income available to common stockholders
 $1,080   2,704,350  $0.40 
Effect of dilutive securities
            
Stock options and grants
  —   818   — 
              
Diluted earnings per share
            
Income available to common stockholders plus effect of dilutive securities
 $1,080   2,705,168  $0.40 
              
 
 
              
   
For the nine months ended September 30, 2011
 
       
Weighted
     
       
average
     
   
Income
  
shares
  
Per share
 
   
(numerator)
  
(denominator)
  
Amount
 
Basic earnings per share
            
Income available to common stockholders
 $2,397   2,700,845  $0.89 
Effect of dilutive securities
            
Stock options and grants
  —   716   — 
              
Diluted earnings per share
            
Income available to common stockholders plus effect of dilutive securities
 $2,397   2,701,561  $0.89 
 
There were 64,407 options to purchase shares of common stock with exercise prices ranging from $24.12 to $32.51 per share which were outstanding during the three and nine months ended September 30, 2011 that were not included in the computation of diluted earnings per share because the options' exercise prices were greater than the average market price of the common shares.