Earnings (Loss) Per Common Share

12 Months Ended

Dec. 31, 2012

Disclosure Earning Per Share Additional Information [Abstract]

Earnings (Loss) Per Common Share

Earnings (Loss) Per Common Share

Basic earnings (loss) per share are computed by dividing income available to common shareholders by the weighted average number of shares outstanding during the year. Diluted earnings per share is computed based on the weighted average number of shares outstanding plus the effects of dilutive stock options and warrants outstanding during the year. Basic and diluted earnings per share are calculated as follows:

	Year Ended December 31,
	2012		2011		2010
	(Dollars in thousands except per share amounts)
Weighted average shares outstanding used in Basic Earnings per Common Share	7,939,433		7,880,249		7,511,173
Dilutive effect of stock options	4,485		—		—
Weighted average shares outstanding used in Diluted Earnings Per Common Share	7,943,918		7,880,249		7,511,173
Net Income	$	6,107	$	5,003	$	5,365
Preferred stock dividend and accretion	1,266		1,276		1,276
Income Available to Common Shareholders	$	4,841	$	3,727	$	4,089
Basic Earnings Per Common Share	$	0.61	$	0.47	$	0.55
Diluted Earnings Per Common Share	$	0.61	$	0.47	$	0.55

Options to purchase 232,000 common shares were considered in computing diluted earnings per common share for the period ended December 31, 2012. Stock options of 4,485 common shares were considered dilutive and the remaining stock options were antidilutive for the period ended December 31, 2012.

All outstanding stock options and common stock warrants were antidilutive for the years ended December 31, 2011 and December 31, 2010.