Earnings Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Note 4 – Earnings Per Share

Basic earnings per share (EPS) are computed on the basis of the weighted average number of shares outstanding during the period presented. Diluted EPS assumes the conversion of both the Convertible Preferred Stock $7.00 Series and the Convertible Preferred Stock $8.00 Series.

	(In Thousands Except per Share Amounts) Three Months Ended March 31,
	2013					2012
Basic:	Income			Shares		Income			Shares
Net Income	$	3,177			15,806	$	1,807			15,692
Preferred Dividend		(52	)				(52	)
Earnings Applicable to Common Stock	$	3,125			15,806	$	1,755			15,692
Basic EPS	$	0.20				$	0.11
Diluted:
Earnings Applicable to Common Stock	$	3,125			15,806	$	1,755			15,692
$7.00 Series Preferred Dividend		24			167		24			167
$8.00 Series Preferred Dividend		14			96		14			96
Adjusted Earnings Applicable to  Common Stock	$	3,163			16,069	$	1,793			15,955
Diluted EPS	$	0.20				$	0.11