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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2013
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 13.  EARNINGS PER SHARE

 

Details of the computation of earnings per share are as follows:

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

 

 

(in thousands except per share data)

 

Basic earnings per share computation:

 

 

 

 

 

 

 

 

 

Net income

 

$

2,265

 

$

3,640

 

$

2,305

 

$

6,083

 

Less income allocated to participating awards

 

1

 

23

 

1

 

48

 

Net income applicable to common shareholders

 

$

2,264

 

$

3,617

 

$

2,304

 

$

6,035

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

11,663

 

11,562

 

11,662

 

11,543

 

Basic earnings per share

 

$

0.19

 

$

0.31

 

$

0.20

 

$

0.52

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share computation:

 

 

 

 

 

 

 

 

 

Net income

 

$

2,265

 

$

3,640

 

$

2,305

 

$

6,083

 

Less income allocated to participating awards

 

1

 

23

 

1

 

48

 

Net income applicable to common shareholders

 

$

2,264

 

$

3,617

 

$

2,304

 

$

6,035

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

11,663

 

11,562

 

11,662

 

11,543

 

Assumed exercise of stock options

 

27

 

24

 

27

 

24

 

Assumed satisfaction of RSA conditions

 

64

 

14

 

60

 

11

 

Weighted average common shares outstanding

 

11,754

 

11,600

 

11,749

 

11,578

 

Diluted earnings per share

 

$

0.19

 

$

0.31

 

$

0.20

 

$

0.52

 

 

For the three months ended June 30, 2013 and 2012, 49,166 and 136,910 shares, respectively, of certain stock-based awards were excluded from the calculation of diluted earnings per share as they were anti-dilutive. For the six months ended June 30, 2013 and 2012, 56,390 and 157,385 shares, respectively, of certain stock-based awards were excluded from the calculation of diluted earnings per share as they were anti-dilutive.