Earnings per share

12 Months Ended

Dec. 31, 2011

Earnings Per Share Abstract

Earnings Per Share Text Block

NOTE 2: BASIC AND DILUTED EARNINGS PER SHARE

Basic net earnings per share is computed by dividing net earnings by the weighted average common shares outstanding for the year. Diluted net earnings per share reflect the potential dilution that could occur if the Company's potential common stock was issued. As of December 31, 2011, 2010 and 2009, the Company had no options issued or outstanding, and therefore, no dilutive effect to consider for the diluted earnings per share calculation.

A reconciliation of the numerator and denominator of the basic and diluted earnings per share computation for the years ended December 31, 2011, 2010 and 2009, respectively, is presented below.

			Year ended December 31
(Dollars in thousands, except share and per share data)			2011		2010		2009
Basic and diluted:
Net earnings		$	5,538	$	5,346	$	2,404
Weighted average common shares outstanding			3,642,735		3,642,851		3,644,691
	Earnings per share	$	1.52	$	1.47	$	0.66