Note 17 - Earning Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Text Block]

NOTE 17 - EARNINGS PER SHARE:

The reconciliation of the numerators and denominators of the basic and diluted EPS computations for the years ended December 31, 2011, 2010 and 2009 as is a follows (000's omitted, except for per share amounts):

	For the years ended December 31,
	2011		2010		2009
Numerator
Net Income	$	4,600	$	4,725	$	4,494
Denominator
Weighted average shares outstanding		11,838		11,380		8,773
Effect of dilutive options		31		49		61
Weighted average shares and dilutive potential Common shares		11,869		11,429		8,834
Basic earnings per common share	$	0.39	$	0.42	$	0.51
Diluted earnings per common share	$	0.39	$	0.41	$	0.51

For the years ended December 31, 2011, 2010 and 2009, options to purchase approximately 55,000,  91,000 and 61,000 shares of common stock, respectively, were excluded from the computation of diluted earnings per share as the exercise price of the options was above the average market price of the shares of common stock.