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EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2013
EARNINGS PER SHARE  
Schedule of computation of earnings per share

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2013

 

2012

 

 

 

(in thousands except per share data)

 

Basic earnings per share computation:

 

 

 

 

 

Net income

 

$

40

 

$

2,443

 

Less earnings allocated to participating equity awards

 

—

 

23

 

Net earnings applicable to common shareholders

 

$

40

 

$

2,420

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

11,660

 

11,524

 

Basic earnings per share

 

$

—

 

$

0.21

 

 

 

 

 

 

 

Diluted earnings per share computation:

 

 

 

 

 

Net income

 

$

40

 

$

2,443

 

Less earnings allocated to participating equity awards

 

—

 

23

 

Net earnings applicable to common shareholders

 

$

40

 

$

2,420

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

11,660

 

11,524

 

Assumed exercise of stock options

 

27

 

24

 

Assumed satisfaction of restricted stock conditions

 

56

 

9

 

Weighted -average diluted shares outstanding

 

11,743

 

11,557

 

Diluted earnings per share

 

$

—

 

$

0.21