EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2012

EARNINGS PER SHARE

Schedule showing the computation of basic and diluted earnings per share

The following shows the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2012 and 2011 (dollars in thousands, except per share data):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
(Numerator):
Net income	$	1,034	$	900	$	6,027	$	2,139
Preferred stock dividends and accretion of discount	137		193		491		573
Net income available to common shareholders	$	897	$	707	$	5,536	$	1,566
(Denominator):
Weighted average shares outstanding - basic	4,722,029		3,419,736		3,857,002		3,419,736
Dilutive effect of stock options	—		—		—		—
Dilutive effect of common stock warrants	136,186		89,845		119,850		83,611
Weighted average shares outstanding - diluted	4,858,215		3,509,581		3,976,852		3,503,347
Income per common share:
Basic	$	.19	$	.21	$	1.44	$	.46
Diluted	$	.18	$	.20	$	1.39	$	.45