EARNINGS PER SHARE

9 Months Ended

Sep. 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						Nine months
Periods ended September 30, (in thousands, except per share amounts)	2011			2010			2011			2010
Net income	$	1,039		$	947		$	2,864		$	2,420
Preferred stock net accretion		(67	)		(5	)		(78	)		(16	)
Preferred stock dividends paid		(107	)		(110	)		(327	)		(331	)
Net income available to common shareholders	$	865		$	832		$	2,459		$	2,073
Weighted average common stock outstanding – basic		1,689			1,686			1,688			1,686
Weighted average common and common equivalent stock outstanding- diluted		1,689			1,686			1,688			1,686
Earnings per common and common equivalent share
Basic	$	0.51		$	0.49		$	1.46		$	1.23
Diluted		0.51			0.49			1.46			1.23