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Earnings Per Share (Notes)
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

The Company calculates basic earnings per share using the two-class method. The two-class method is an earnings allocation formula that determines earnings per share separately for common stock and participating securities according to dividends declared and participation rights in undistributed earnings. The Company has determined that its outstanding non-vested restricted stock awards are participating securities. Diluted earnings per share are calculated using the more dilutive of the two-class method and the treasury stock method.

The calculation of earnings per share and the reconciliation of earnings per share and earnings per diluted share were as follows:

 
 
Three Months Ended
 
Nine Months Ended
(Dollars in thousands, except per share data)
 
September 30
 
September 30
 
 
2012
 
2011
 
2012
 
2011
Net income
 
$
1,794

 
$
1,330

 
$
5,154

 
$
3,386

Preferred dividends
 
479

 
448

 
1,413

 
1,320

Net income attributable to common stock
 
1,315

 
882

 
3,741

 
2,066

Net income allocated to common stockholders:
 
 

 
 

 
 

 
 

Distributed
 
92

 
89

 
276

 
273

Undistributed
 
1,172

 
789

 
3,353

 
1,781

 
 
$
1,264

 
$
878

 
$
3,629

 
$
2,054

Weighted-average basic common and participating shares outstanding
 
9,599,721

 
9,184,872

 
9,452,463

 
9,177,590

Less: weighted average participating restricted shares outstanding
 
413,918

 
51,391

 
283,450

 
57,220

Weighted-average basic shares outstanding
 
9,185,803

 
9,133,481

 
9,169,013

 
9,120,370

Basic net income per share
 
0.14

 
0.10

 
0.40

 
0.23

Weighted-average basic common and participating shares outstanding
 
9,599,721

 
9,184,872

 
9,452,463

 
9,177,590

Add: share-based options and stock warrant
 
1,594

 
—

 
—

 
—

 
 
9,601,315

 
9,184,872

 
9,452,463

 
9,177,590

Less: weighted average participating restricted shares outstanding
 
413,918

 
51,391

 
283,450

 
57,220

Weighted-average dilutive shares outstanding
 
9,187,397

 
9,133,481

 
9,169,013

 
9,120,370

Dilutive net income per share
 
0.14

 
0.10

 
0.40

 
0.23

Weighted-average shares of potentially dilutive instruments that are not included in the dilutive share calculation due to anti-dilutive effect:
 
 

 
 

 
 

 
 

Compensation plan-related stock options
 
19,600

 
33,600

 
30,429

 
32,954

Common stock warrant
 
513,113

 
513,113

 
513,113

 
513,113