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Earnings Per Common Share
 12 Months Ended
Dec. 31, 2011
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

5. Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share:

 

     2011      2010      2009  
     (In Thousands, Except Per Share Amounts)  

Numerator for basic and diluted earnings per common share-net income applicable to common shares

    $ 13,506       $ 6,088       $ 5,184   
  

 

 

     

 

 

     

 

 

  

Denominator:

         

Denominator for basic earnings per common share-weighted-average common shares, including participating securities

      9,371         8,118         8,117   

Effect of dilutive securities:

         

Employee stock options

      15         1         1   

Warrants

      154         34         78   
  

 

 

     

 

 

     

 

 

  

Dilutive potential common shares

      169         35         79   
  

 

 

     

 

 

     

 

 

  

Denominator for diluted earnings per common share

      9,540         8,153         8,196   
  

 

 

     

 

 

     

 

 

  

Basic earnings per common share

    $ 1.44       $ .75       $ .64   
  

 

 

     

 

 

     

 

 

  

Diluted earnings per common share

    $ 1.42       $ .75       $ .63   
  

 

 

     

 

 

     

 

 

  

Shares under option of 255,700 in 2011, 363,050 in 2010 and 412,150 in 2009 were excluded from the diluted earnings per common share calculation as they were anti-dilutive.