Earnings per Common Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings per Common Share

Earnings per Common Share

Basic earnings per share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed in the same manner as basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if certain shares issuable upon exercise of options and non-vested restricted stock were included.

The following table reconciles the numerators and denominators of the basic and diluted earnings per common share computations:

(dollars in thousands)	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2013		2012		2013		2012
Income available to common shareholders	$	4,502	$	4,638	$	11,994	$	12,258
Weighted average number of common shares, basic	15,531,000		15,413,000		15,491,000		15,418,000
Effect of dilutive stock awards	58,000		33,000		47,000		35,000
Weighted average number of common shares, diluted	15,589,000		15,446,000		15,538,000		15,453,000
Earnings per common share
Basic	$	0.29	$	0.30	$	0.77	$	0.80
Diluted	$	0.29	$	0.30	$	0.77	$	0.79
Antidulitive stock awards excluded from the
computation of diluted earnings per common share (in shares)	38,000		44,000		39,000		46,000