Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

EARNINGS PER SHARE

3.	EARNINGS PER SHARE
	Diluted earnings per share, which reflects the potential dilution that could occur if outstanding stock options were exercised and stock awards were fully vested and resulted in the issuance of common stock that then shared in our earnings, is computed by dividing net income by the weighted average number of common shares outstanding and common stock equivalents, after giving effect for dilutive shares issued.
	The following shows the computation of basic and diluted earnings per share for the three and six months ended June 30, 2011 and 2010 (dollars in thousands, except per share data):

	Three Months Ended June 30,					Six Months Ended June 30,
	2011		2010			2011		2010
(Numerator):
Net income (loss)	$	795	$	(2,302	)	$	1,240	$	1,409
Preferred stock dividends and accretion of discount		192		186			381		371
Net income (loss) available to common shareholders	$	603	$	(2,488	)	$	859	$	1,038
(Denominator):
Weighted average shares outstanding — basic		3,419,736		3,419,736			3,419,736		3,419,736
Dilutive effect of stock options		—		—			—		—
Dilutive effect of common stock warrants		90,074		—			84,831		64,425
Weighted average shares outstanding — diluted		3,509,810		3,419,736			3,504,567		3,484,161
Income per common share:
Basic	$	.18	$	(.73	)	$	.25	$	.30
Diluted	$	.17	$	(.73	)	$	.25	$	.30