XML 55 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 6: EARNINGS PER SHARE

 

The following table presents reconciliations of the calculations of basic and diluted earnings per share for the three months ended March 31, 2013 and 2012:

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands except per share data)

2013

2012

Net income

$
3,609 

$
3,613 

Weighted average common shares outstanding

 
6,287 

 
6,237 

Dilutive effect of common stock equivalents

 
12 

 
15 

Weighted average common and common equivalent

 

 

 

 

shares outstanding

 
6,299 

 
6,252 

Basic earnings per common share

$
0.57 

$
0.58 

Diluted earnings per common share

$
0.57 

$
0.58 

 

Basic earnings per common share were computed by dividing net income by the weighted average number of shares of common stock outstanding for the three months ended March 31, 2013 and 2012. The computation of diluted earnings per share excludes the effect of assuming the exercise of certain outstanding stock options because the effect would be anti-dilutive. There were no anti-dilutive options outstanding for the three months ended March 31, 2013 or 2012, which were not considered in the calculation of diluted earnings per share because the stock options’ exercise price was greater than the average market price during these periods.