Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE C— EARNINGS PER SHARE

Earnings per share were computed as follows:

	(In thousands, except share data) Three Months Ended September 30,
	2012						2011
	Net Income		Weighted Average Shares		Per Share Amount		Net Income		Weighted Average Shares		Per Share Amount
Basic Earnings Per Share: Income available to common shareholders	$	465		2,988,952	$	0.16	$	298		2,988,952	$	0.10
Effect of dilutive stock options		—		—				—		—
Diluted Earnings Per Share: Income available to common shareholders	$	465		2,988,952	$	0.16	$	298		2,988,952	$	0.10

	(In thousands, except share data) Nine Months Ended September 30,
	2012						2011
	Net Income		Weighted Average Shares		Per Share Amount		Net Income		Weighted Average Shares		Per Share Amount
Basic Earnings Per Share: Income available to common shareholders	$	1,263		2,988,952	$	0.42	$	689		2,988,952	$	0.23
Effect of dilutive stock options		—		—				—		—
Diluted Earnings Per Share: Income available to common shareholders	$	1,263		2,988,952	$	0.42	$	689		2,988,952	$	0.23

Options to purchase 158,482 and 167,982 shares of common stock at exercise prices of $9.25 to $15.56 per share were outstanding at September 30, 2012 and 2011, respectively, but were not included in the computation of diluted earnings per share because the options were anti-dilutive, in that the exercise prices of the options exceeded the market value of the Company’s stock for the periods presented.