Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share

Earnings Per Share

NOTE 3- EARNINGS PER SHARE

A reconciliation of the numerators and denominators used in the computation of the basic earnings per share and diluted earnings per share is presented below (000s omitted except per share data):

		Three Months			Three Months			Six Months			Six Months
		Ended			Ended			Ended			Ended
		June 30, 2011			June 30, 2010			June 30, 2011			June 30, 2010
Basic earnings per share
Numerator:
Net income	$	19		$	(6,816	)	$	217		$	(8,052	)
Dividends and amortization of discount on preferred
stock	$	89		$	88		$	177		$	176
Net Income (Loss) available to common stock	$	(70	)	$	(6,904	)	$	40		$	(8,228	)
Denominator:
Weighted average common shares outstanding		2,049			2,045			2,049			2,045
Less: Average unallocated ESOP shares		(56	)		(65	)		(56	)		(65	)
Less: Average non-vested RRP shares		(1	)		(2	)		(1	)		(2	)
Weighted average common shares outstanding
for basic earnings (loss) per share		1,992			1,978			1,992			1,978
Basic earnings (loss) per share	$	(0.04	)	$	(3.49	)	$	0.02		$	(4.16	)
Diluted earnings per share
Numerator:
Net Income (Loss) available to common stock	$	(70	)	$	(6,904	)	$	40		$	(8,228	)
Denominator:
Weighted average common shares outstanding
for basic earnings per share		1,992			1,978			1,992			1,978
Add: Dilutive effects of restricted stock,
stock options and warrants		-			-			-			-
Weighted average common shares and dilutive
potential common shares outstanding		1,992			1,978			1,992			1,978
Diluted earnings (loss) per share	$	(0.04	)	$	(3.49	)	$	0.02		$	(4.16	)