Note 5 - Basic And Diluted Earnings Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Text Block]

NOTE 5 – BASIC AND DILUTED EARNINGS PER SHARE

(In thousands of dollars except per share data)	Three Months Ended March 31,
	2013		2012
Earnings per share
Net income	$	2,863	$	2,417
Preferred stock dividends and accretion of discount		209		420
Income available to common shareholders	$	2,654	$	1,997
Weighted average common shares outstanding		8,016		7,897
Basic Earnings per Share	$	0.33	$	0.25
Earnings per share assuming dilution
Net income	$	2,863	$	2,417
Preferred stock dividends and accretion of discount		209		420
Income available to common shareholders	$	2,654	$	1,997
Weighted average common shares outstanding		8,016		7,897
Add dilutive effect of assumed exercises of options		48		6
Weighted average common and dilutive potential common shares outstanding		8,064		7,903
Diluted Earnings per Share	$	0.33	$	0.25

Stock options for 219,880 shares for the three months of 2013, were not considered in computing diluted earnings per share because they were anti-dilutive. Stock options and warrants for 925,879 shares for the three month period of 2012, were not considered in computing diluted earnings per share because they were anti-dilutive.