Earnings Per Share

6 Months Ended

Jun. 30, 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 options to purchase common stock were exercised, warrants to purchase common stock were exercised, and restricted stock units vested and common stock was issued. 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 June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Net income (loss) allocated to common shareholders	$	6,504	$	145	$	9,616	$	(1,531	)
Weighted-average number of common shares — basic		11,347,683		9,786,906		11,347,683		9,492,704
Stock-based compensation plans		188,673		121,575		183,859		0
Warrants		102,712		67,510		100,809		0
Weighted-average number of common shares — diluted		11,639,068		9,975,991		11,632,351		9,492,704
Basic earnings (loss) per share	$	0.57	$	0.01	$	0.85	$	(0.16	)
Diluted earnings (loss) per share	$	0.56	$	0.01	$	0.83	$	(0.16	)

For the quarter and six months ended June 30, 2012, respectively, 1,590,162 and 1,594,976 share-based compensation awards and 567,329 and 569,232 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 and six months ended June 30, 2011, respectively, 292,874 and 934,634 share-based compensation awards and 11,197 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.