XML 50 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings per Share
 6 Months Ended
Jun. 30, 2012
Notes To Financial Statements [Abstract]  
Earnings per Share
3.
Earnings per Share

Earnings per weighted average common share are calculated by dividing net income applicable to common stock by the weighted average number of shares of common stock outstanding during the respective periods as detailed below (diluted shares include the effect of unexercised stock options):
Three months ended June 30,
2012
 
2011
Common Shares Outstanding End of Period:
8,815,234

 
8,722,456

Weighted Average Shares Outstanding (Days Outstanding Basis):
 

 
 

Basic
8,667,440

 
8,600,905

Diluted
8,805,338

 
8,710,043

 
 
 
 
Basic Earnings per Share
$
0.48

 
$
0.41

Dilutive Effect of Unexercised Stock Options
(0.01
)
 
(0.01
)
Diluted Earnings per Share
$
0.47

 
$
0.40

 
 
 
 
Six Months ended June 30,
 
 
 
Weighted Average Shares Outstanding (Days Outstanding Basis):
 
 
 
Basic
8,659,176

 
8,589,949

Diluted
8,793,176

 
8,702,083

 
 
 
 
Basic Earnings per Share
$
0.70

 
$
0.67

Dilutive Effect of Unexercised Stock Options
(0.01
)
 
(0.01
)
Diluted Earnings per Share
$
0.69

 
$
0.66



Total unrecognized compensation expense for all stock awards was approximately $1.1 million as of June 30, 2012 and will be recognized over a weighted average period of 1.2 years.