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Earnings Per Share
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings (Loss) 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
 
Six Months Ended
(Dollars in thousands, except per share data)
 
June 30
 
June 30
 
 
2013
 
2012
 
2013
 
2012
Net income
 
$
222

 
$
1,753

 
$
2,820

 
$
3,360

Preferred dividends
 
507

 
471

 
1,004

 
934

Net income (loss) attributable to common stock
 
$
(285
)
 
$
1,282

 
$
1,816

 
$
2,426

Net income (loss) allocated to common stockholders:
 
 

 
 

 
 

 
 

Distributed
 
92

 
92

 
185

 
184

Undistributed
 
(365
)
 
1,134

 
1,562

 
2,181

 
 
$
(273
)
 
$
1,226

 
$
1,747

 
$
2,365

Weighted-average basic common and participating shares outstanding
 
9,607,329

 
9,596,919

 
9,606,222

 
9,399,697

Less: weighted average participating restricted shares outstanding
 
372,877

 
432,343

 
373,259

 
239,171

Weighted-average basic shares outstanding
 
9,234,452

 
9,164,576

 
9,232,963

 
9,160,526

Basic net income (loss) per share
 
$
(0.03
)
 
$
0.14

 
$
0.19

 
$
0.26

Weighted-average basic common and participating shares outstanding
 
9,607,329

 
9,596,919

 
9,606,222

 
9,399,697

Add: share-based options and stock warrant
 
—

 
—

 
170,598

 
—

 
 
9,607,329

 
9,596,919

 
9,776,820

 
9,399,697

Less: weighted average participating restricted shares outstanding
 
372,877

 
432,343

 
373,259

 
239,171

Weighted-average dilutive shares outstanding
 
9,234,452

 
9,164,576

 
9,403,561

 
9,160,526

Dilutive net income (loss) per share
 
$
(0.03
)
 
$
0.14

 
$
0.19

 
$
0.26

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
 
11,303

 
29,714

 
17,555

 
31,657

Common stock warrant
 
—

 
513,113

 
—

 
513,113