Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Note 9 – Earnings Per Share

Earnings per share are summarized in the following table (figures in thousands except earnings per share):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Net income	$	612	$	181	$	1,752	$	1,131
Less net income attributable to participating securities(1)		7		2		19		12
Net income available to common shareholders	$	605	$	179	$	1,733		1,119
Weighted average number of shares outstanding, basic		2,588		2,583		2,586		2,583
Weighted average number of shares outstanding, diluted		2,628		2,609		2,616		2,610
Earnings per share, basic	$	0.24	$	0.07	$	0.68	$	0.44
Earnings per share, diluted	$	0.23	$	0.07	$	0.67	$	0.43

(1) Represents dividends paid and undistributed earnings allocated to nonvested restricted stock awards.

All share and per share information in this report for periods prior to the Conversion has been revised to reflect the 0.87423 Conversion exchange ratio. (Please see Note 2 – Conversion and Stock Issuance for more information.)

Treasury shares for 2011 and unallocated common shares held by the ESOP for 2012 and 2011 are not included in the weighted-average number of common share outstanding for either basic or diluted earnings per share calculations. Unvested restricted shares are included in the weighted-average number of common shares outstanding for basic earnings per share calculations. The Company's common stock equivalents relate solely to stock options granted and outstanding.