Earnings Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 18. EARNINGS PER SHARE

The computations of basic and diluted earnings per share ("EPS") follow:

								For the Year Ended December 31,
				2012						2011						2010
				Common						Common						Common
Dollars in thousands,		Income		Shares		Per		Income		Shares		Per		Income		Shares		Per
except per share amounts		(Numerator)		(Denominator)		Share		(Numerator)		(Denominator)		Share		(Numerator)		(Denominator)		Share
Net income	$	5,713					$	4,074					$	(1,975	)
Less preferred stock
dividends		(777	)					(371	)					(297	)
Basic EPS	$	4,936		7,425,472	$	0.66	$	3,703		7,425,472	$	0.50	$	(2,272	)	7,425,472	$	(0.31	)
Effect of dilutive securities:
Stock options		-		1,152				-		-				-		-
Series 2011 convertible
preferred stock		480		1,500,000				74		238,182				-		-
Series 2009 convertible
preferred stock		297		674,545				297		674,545				-		-
Diluted EPS	$	5,713		9,601,169	$	0.60	$	4,074		8,338,199	$	0.49	$	(2,272	)	7,425,472	$	(0.31	)

     Stock option grants and the convertible preferred shares are disregarded in this computation if they are determined to be anti-dilutive. Our anti-dilutive stock options at December 31, 2012, 2011, and 2010, totaled 244,700 shares, 312,180 shares, and 312,180 shares, respectively. Our anti-dilutive convertible preferred shares totaled 674,545 shares at December 31, 2010.