Earnings Loss Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 19 – EARNINGS (LOSS) PER SHARE

A reconciliation of basic and diluted earnings and loss per share follows:

In thousands, except per share data		2011			2010			2009
Net income (loss)		$	917		$	(3,708	)	$	(8,833	)
Less:	Accretion of discount on preferred stock		(106	)		(100	)		(91	)
	Dividends on preferred stock		(1,030	)		(1,030	)		(987	)
(Loss) available to common shareholders		$	(219	)	$	(4,838	)	$	(9,911	)

Basic and diluted loss per share:	2011			2010			2009
Weighted average common shares outstanding		12,688.2			5,389.9			5,059.7
Weighted average contingently issuable shares		82.9			60.9			67.2
Total weighted average shares outstanding		12,771.2			5,450.8			5,126.9
Basic and diluted loss per share	$	(0.02	)	$	(0.89	)	$	(1.93	)

There was no dilutive effect of stock warrants in 2011, 2010 or 2009. Stock options for 381,743 407,730 and 416,594 shares of common stock were not considered in computing diluted earnings per share for 2011, 2010 and 2009 because they were not dilutive.