EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 22 – EARNINGS PER SHARE

The calculation of earnings per share is as follows:

Years ended December 31, (in thousands, except per share amounts)	2011			2010			2009
Net income	$	4,112		$	3,660		$	2,467
Preferred stock net accretion		(78	)		(21	)		(13	)
Preferred stock dividends declared		(446	)		(441	)		(296	)
Cumulative preferred stock dividends earned		—			—			(56	)
Net income available to common shareholders	$	3,588		$	3,198		$	2,102
Weighted average common stock outstanding - basic		1,689			1,687			1,686
Weighted average common and common equivalent stock outstanding- diluted		1,689			1,687			1,686
Earnings per common and common equivalent share
Basic	$	2.12		$	1.90		$	1.25
Diluted		2.12			1.90			1.25