EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2013

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 7 - EARNINGS PER SHARE

Earnings per common share (EPS) were computed as follows:

	March 31, 2013						March 31, 2012
For the three months ended:	Net Income			Weighted Average Shares	Per Share Amount		Net Income			Weighted Average Shares	Per Share Amount
Basic earnings per common share:
Net income	$	3,991		20,316,189			$	6,011		20,211,983
Redemption of preferred shares	—						1,242		(1)
Preferred dividends and accretion	(202		)				(763		)
Net income available to common shareholders	$	3,789		20,316,189	$	0.19	$	6,490		20,211,983	$	0.32
Effect of Dilutive stock options				62,465						53,588
Net income available to common shareholders and assumed conversions	$	3,789		20,378,654	$	0.19	$	6,490		20,265,571	$	0.32

(1) See Note 10 for additional information on this amount.

Stock options for 257,516 common shares and stock warrants for 571,906 common shares in 2013 and stock options for 251,655 common shares and stock warrants for 571,906 common shares in 2012 were not considered in computing diluted earnings per share because they were antidilutive.