Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 6 – EARNINGS PER SHARE

The calculation of earnings per share is as follows:

	Three months				Six months
Periods ended June 30, (in thousands, except per share amounts)	2011		2010		2011		2010
Net income	$	882	$	878	$	1,825	$	1,473
Preferred stock net accretion		6		5		11		10
Preferred stock dividends paid		110		110		220		220
Net income available to common shareholders	$	766	$	763	$	1,594	$	1,243
Weighted average common stock outstanding – basic		1,689		1,687		1,688		1,687
Weighted average common and common equivalent stock outstanding- diluted		1,689		1,687		1,689		1,687
Earnings per common and common equivalent share
Basic	$	0.45	$	0.45	$	0.94	$	0.74
Diluted		0.45		0.45		0.94		0.74