Earnings Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

The table below reflects the diluted weighted-average number of common stock shares outstanding using the treasury stock method:

	Year Ended December 31,
	2012	2011
Weighted-average shares - basic	10,607,751	10,442,034
Effect of dilutive common stock equivalents:
Restricted stock award 1	47,773	—
Weighted-average shares - diluted	10,655,524	10,442,034

¹Includes 86,990 shares of restricted common stock awarded on June 14, 2012. See Note 17 for additional information.

We had 7,077,375 warrants outstanding, which expired on October 4, 2011. All of the warrants outstanding were anti-dilutive during that period. Prior to their expiration, each warrant could have been exercised for one share of common stock.

The basic and diluted EPS computations are calculated as follows:

	Year Ended December 31,
	2012		2011
Basic EPS:
Net income attributable to common shareholders	$	9,705,000	$	8,088,000
Weighted average shares outstanding	10,607,751		10,442,034
Basic EPS	$	0.91	$	0.77
Diluted EPS:
Net income attributable to common shareholders	$	9,705,000	$	8,088,000
Weighted average shares outstanding	10,607,751		10,442,034
Weighted average dilutive shares	47,773		—
Total Weighted Average Shares	10,655,524		10,442,034
Diluted EPS	$	0.91	$	0.77