Earnings Per Common Share

3 Months Ended

Mar. 31, 2013

Disclosure Earning Per Share Additional Information [Abstract]

Earnings Per Common Share

Earnings Per Common Share

Basic earnings 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:

	Three Months Ended March 31,
	2013		2012
	(Dollars in thousands except per share amounts)
Weighted average shares outstanding used in Basic Earnings per Common Share	8,201,120		7,924,562
Dilutive effect of stock options	10,918		1,328
Weighted average shares outstanding used in Diluted Earnings Per Common Share	8,212,038		7,925,890
Net Income	$	1,113	$	1,505
Preferred stock dividend and accretion	257		319
Income Available to Common Shareholders	$	856	$	1,186
Basic Earnings Per Common Share	$	0.10	$	0.15
Diluted Earnings Per Common Share	$	0.10	$	0.15

Options to purchase 232,000 common shares were considered in computing diluted earnings per common share for the three month period ended March 31, 2013. Stock options of 10,918 common shares were considered dilutive and the remaining stock options were antidilutive for the period ended March 31, 2013. As of March 31, 2012, stock options of 1,328 were considered dilutive and the remaining stock options were antidilutive for the period ended March 31, 2012.