Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share

EARNINGS PER SHARE

5. EARNINGS PER SHARE

The following sets forth the computation of basic and diluted earnings per share:

	For the Three Months				For the Six Months
	Ended June 30,				Ended June 30,
	2011		2010		2011		2010
Numerator for basic and diluted earnings per share - net income	$	2,435	$	1,963	$	4,646	$	3,789
Denominator for basic earnings per share - weighted average
shares outstanding		3,144,935		3,099,852		3,139,721		3,097,208
Effect of dilutive securities - employee stock options		16,826		13,615		13,920		10,475
Denominator for diluted earnings per share - adjusted
weighted average shares outstanding		3,161,761		3,113,467		3,153,641		3,107,683
Earnings per share-basic	$	0.77	$	0.63	$	1.48	$	1.22
Earnings per share-diluted	$	0.77	$	0.63	$	1.47	$	1.22

There were 41,850 and 58,850 stock options that were anti-dilutive for the three and six-month periods ended June 30, 2011, respectively.  There were 113,300 and 147,300 stock options that were anti-dilutive for the three and six-month periods ended June 30 2010, respectively.  These stock options were not included in the above calculation.