Note 5 - Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

5.     EARNINGS PER COMMON SHARE

Basic earnings per common share (“EPS”) is computed by dividing net income (after deducting dividends on preferred stock) by the weighted-average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income available to common shareholders by the weighted-average number of common shares and potentially dilutive common shares outstanding during the period. Stock options, restricted common shares and warrants can be dilutive common shares and are therefore considered in the earnings per share calculation, if dilutive.  Stock options, restricted common shares and warrants that are antidilutive are excluded from earnings per share calculation.  Stock options, restricted common shares and warrants are antidilutive when the exercise price is higher than the current market price of the Company’s common stock. For the three months ended June 30, 2013 and 2012, there were 244,801 and 453,090 antidilutive stock options, respectively.  For the six months ended June 30, 2013 and 2012, there were 258,954 and 600,491 antidilutive stock options, respectively.  The number of potentially dilutive common shares is determined using the treasury stock method.

	As of and for the Three Months Ended June 30,				As of and for the Six Months Ended June 30,
	2013		2012		2013		2012
	(In thousands, except per share amounts)
Net income available to common shareholders	$	2,796	$	2,521	$	5,823	$	4,691
Weighted average common shares in basic EPS		18,366		15,493		18,349		14,331
Effect of dilutive securities		347		260		364		166
Weighted average common and potentially dilutive common shares used in diluted EPS		18,713		15,753		18,713		14,497
Earnings per common share:
Basic	$	0.15	$	0.16	$	0.32	$	0.33
Diluted	$	0.15	$	0.16	$	0.31	$	0.32