Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 13: EARNINGS PER SHARE

The following table presents reconciliations of the calculations of basic and diluted earnings per share for the years ended December 31, 2011, 2010 and 2009:

	2011		2010		2009
	(In thousands except per share data)
Net Income	$	14,620	$	15,461	$	12,479
Weighted average common shares outstanding		6,212		6,167		6,106
Dilutive effect of common stock equivalents		12		4		1
Weighted average common and common
equivalent shares outstanding		6,224		6,171		6,107
Basic earnings per share	$	2.35	$	2.51	$	2.04
Diluted earnings per share	$	2.35	$	2.51	$	2.04

Basic earnings per common share were computed by dividing net income by the weighted average number of shares of common stock outstanding during the year. 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. The average anti-dilutive options outstanding for 2011, 2010 and 2009 were 7,500; 44,478 and 63,389, respectively.