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Earning Per Share
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
 
Basic earnings per share (EPS), which excludes dilution, is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period.  Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options or warrants, stock appreciation rights settled in stock or restricted stock awards, result in the issuance of common stock which shares in the earnings of the Company.  There was no difference in the net income used in the calculation of basic earnings per share and diluted earnings per share for the three month periods ended March 31, 2012 or 2011.
 
A reconciliation of the numerators and denominators of the basic and diluted EPS computations is as follows:
 
Basic Earnings Per share
 
For the Three Months
Ended March 31,
(In thousands, except share and per share amounts)
 
2012
 
2011
Net Income
 
$
1,713

 
$
1,588

Less: Preferred stock dividends and accretion
 
(88
)
 
(99
)
Income available to common shareholders
 
$
1,625

 
$
1,489

Weighted average shares outstanding
 
9,570,297

 
9,475,444

Basic earnings per share
 
$
0.17

 
$
0.16

 
Diluted Earnings Per share
 
For the Three Months
Ended March 31,
(In thousands, except share and per share amounts)
 
2012
 
2011
Net Income
 
$
1,713

 
$
1,588

Less: Preferred stock dividends and accretion
 
(88
)
 
(99
)
Income available to common shareholders
 
$
1,625

 
$
1,489

Weighted average shares outstanding
 
9,570,297

 
9,475,444

Effect of dilutive stock options
 
7,135

 
27,869

Weighted average shares of common stock and common stock equivalents
 
9,577,432

 
9,503,313

Diluted earnings per share
 
$
0.17

 
$
0.16



During the three-month periods ended March 31, 2012 and 2011, options and warrants to purchase 436,499 and 523,246 shares of common stock, respectively, were not factored into the calculation of dilutive stock options because they were anti-dilutive.