Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share

Note 17: Earnings Per Share

Earnings per share have been computed based upon the weighted average common shares outstanding.

	2011						2010
	Income		Weighted- Average Shares		Per Share Amount		Income		Weighted- Average Shares		Per Share Amount
Basic earnings per share
Income available to common stockholders	$	1,410		1,514,472	$	0.93	$	1,957		1,510,308	$	1.30
Effect of dilutive RRP awards and stock options				1,974						4,131
Diluted earnings per share
Income available to common stockholders and assumed conversions	$	1,410		1,516,446	$	0.93	$	1,957		1,514,439	$	1.29

Net income for the year ending December 31, 2011 of $1,772,000 was reduced by $362,000 for dividends on preferred stock in the same period, to arrive at income available to common stockholders of $1,410,000. Net income for the year ending December 31, 2010 of $2,320,000 was reduced by $363,000 for dividends on preferred stock in the same period, to arrive at income available to common stockholders of $1,957,000.

Certain groups of options were not included in the computation of diluted earnings per share because the option price was greater than the average market price of the common shares. For the years ending December 31, 2011 and 2010, options to purchase 5,000 shares at an exercise price of $22.25 per share were outstanding and were not included in the computation of diluted earnings for those periods.