Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 19—EARNINGS PER SHARE

The factors used in the earnings per share computation follow.

	2011		2010
Basic
Net income (loss) available to common shareholders	$	2,782	$	(2,447	)
Weighted Average common shares outstanding		7,707,917		7,707,917
Basic earnings (loss) per share	$	0.36	$	(0.32	)
Diluted
Net income (loss) available to common shareholders	$	2,782	$	(2,447	)
Weighted average common shares outstanding for basic earnings per common share		7,707,917		7,707,917
Add: dilutive effects of assumed exercise of options		—		—
Average shares and dilutive potential common shares outstanding		7,707,917		7,707,917
Diluted earnings (loss) per share	$	0.36	$	(0.32	)

Basic earnings per common share are calculated by dividing net income by the weighted-average number of common shares outstanding for the period.

Diluted earnings per common share takes into consideration the pro forma dilution of unexercised stock option awards, computed using the treasury stock method.

Stock options for 29,500 shares in 2011 and 2010 were not considered in computing diluted earnings per common share because they were anti-dilutive.