Earnings Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 10. EARNINGS PER SHARE (EPS)

The table below reconciles the numerator and denominator of EPS for the three months ended March 31, 2013 and 2012.

(in thousands, except per-share information)
			Three Months Ended March 31,
				2013		2012
Basic and diluted EPS per common share:
Numerator for basic and diluted EPS per common share:
	Net income - Basic and diluted		$	400	$	617
Weighted average common shares:
	Common shares outstanding or to be
		issued at the balance sheet date		3,342		982
	Effect of weighting			(1,338)		-
Weighted average shares-basic and diluted				2,004		982
Income per common share:
	Basic and diluted		$	0.20	$	0.63

On February 14, 2013, Orchid's Board of Directors declared a stock dividend whereby 5.37 shares of common stock were issued for each share of common stock outstanding. 827,555 shares distributed as the dividend were issued to Bimini on February 20, 2013, immediately prior to Orchid's IPO.For the three months ended March 31, 2012, the 981,665 common shares, which includes the 154,110 shares of common stock outstanding at December 31, 2012 and the 827,555 shares distributed as a stock dividend,is used for the EPS computation, as Bimini was the sole stockholder during the entire period.