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Earnings per Common Share
 6 Months Ended
Jun. 30, 2013
Earnings per Common Share [Abstract]  
Earnings per Common Share
Note 2.  Earnings per Common Share
 
Basic earnings per common share (“EPS”) is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding. Diluted EPS includes any additional common shares as if all potentially dilutive common shares were issued (e.g., stock options). The Corporation’s weighted average common shares outstanding for diluted EPS include the effect of stock options and restricted stock awards outstanding using the Treasury Stock Method, which are not included in the calculation of basic EPS. Anti-dilutive stock option and restricted stock award shares outstanding were 67,451 and 67,451, respectively, for the three and six months ended June 30, 2013, and anti-dilutive stock option shares outstanding were 79,343 and 79,343 respectively for the three and six months ended June 30, 2012.
 
Earnings per common share have been computed based on the following:
 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
(in thousands, except per share amounts)
 
2013
 
2012
 
2013
 
2012
 
Net income
 
$
4,923
 
$
4,353
 
$
9,847
 
$
8,584
 
Preferred stock dividends
 
 
(28)
 
 
(84)
 
 
(84)
 
 
(225)
 
Net income available to common shareholders
 
$
4,895
 
$
4,269
 
$
9,763
 
$
8,359
 
Basic weighted average common shares outstanding
 
 
16,349
 
 
16,334
 
 
16,349
 
 
16,333
 
Plus: effect of dilutive options
 
 
27
 
 
8
 
 
26
 
 
7
 
Diluted weighted average common shares outstanding
 
 
16,376
 
 
16,342
 
 
16,375
 
 
16,340
 
Earnings per common share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
0.30
 
$
0.26
 
$
0.60
 
$
0.51
 
Diluted
 
$
0.30
 
$
0.26
 
$
0.60
 
$
0.51