Earnings Per Common Share

12 Months Ended

Dec. 31, 2011

Earnings Per Common Share [Abstract]

Earnings Per Common Share

Note 11. Earnings Per Common Share

A reconciliation of the numerator and denominator of the earnings per common share calculations is as follows:

	For the Year Ended December 31, 2011
	Income			Shares	Per Share Amount
Basic Earnings Per Common Share
Net income before preferred stock dividends	$	3,290		22,142
Less preferred stock dividends		(508	)	-
Net income applicable to common shareholders		2,782		22,142	$	.13
Diluted Earnings Per Common Share
Effect of dilutive stock options		-		130
Net income applicable to common shareholders	$	2,782		22,272	$	.12

	Restated
	For the Year Ended December 31, 2010
	Income			Shares	Per Share Amount
Basic Earnings Per Common Share
Net income before preferred stock dividends	$	990		22,281
Less preferred stock dividends		(508	)	-
Net income applicable to common shareholders		482		22,281	$	.02
Diluted Earnings Per Common Share
Effect of dilutive stock options		-		64
Net income applicable to common shareholders	$	482		22,345	$	.02

The assumed conversion of the Company's Series D Preferred Stock was excluded from the earnings per common share calculation for all periods presented since its impact would have been antidilutive.