EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2012

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 4 - EARNINGS PER SHARE

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period.  Diluted earnings per share reflects the potential dilution that could occur if (i) options to purchase common stock were exercised and (ii) warrants to purchase common stock were exercised.  Potential common shares that may be issued related to outstanding stock options are determined using the treasury stock method.  The following are the components of the Bancorp's earnings per share for the periods presented:

	Three Months Ended March 31,
	2012		2011
Net income (loss) allocated to common shareholders	$	3,112		$	(1,676	)
Weighted average number of common shares - basic		11,347,683			9,195,232
Stock-based compensation plans		179,044			-
Warrants		98,906			-
Weighted average number of common shares - diluted		11,625,633			9,195,232
Basic earnings (loss) per share	$	0.27		$	(0.18	)
Diluted earnings (loss) per share	$	0.27		$	(0.18	)

For the quarter ended March 31, 2012, 1,599,791 share-based compensation awards and 571,135 warrants were outstanding but were not included in the computation of diluted earnings per share because their common stock equivalents were anti-dilutive.

For the quarter ended March 31, 2011, 948,199 share-based compensation awards and 551,278 warrants were outstanding but were not included in the computation of diluted earnings per share because their common stock equivalents were anti-dilutive.