Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2013

Earnings per Share

Earning per share - basic and diluted

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(dollars in thousands, except per share data)	2013		2012			2013		2012
Basic earnings per common share:
Net income	$	1,569	$	(1,572	)	$	3,245	$	619
Less:
Preferred stock dividends	0		228			337		894
Accretion of discount on preferred stock	0		72			278		587
Net income available to common shareholders	$	1,569	$	(1,872	)	$	2,630	$	(862	)
Basic earnings per share	$	0.31	$	(0.37	)	$	0.52	$	(0.17	)
Diluted earnings per common share:
Net income	$	1,569	$	(1,572	)	$	3,245	$	619
Less:
Preferred stock dividends	0		228			337		894
Accretion of discount on preferred stock	0		72			278		587
Net income available to common shareholders	$	1,569	$	(1,872	)	$	2,630	$	(862	)
Average shares outstanding	5,032,679		5,032,679			5,032,679		5,032,679
Effect of dilutive stock options	0		0			0		0
Average shares outstanding including dilutive stock options	5,032,679		5,032,679			5,032,679		5,032,679
Diluted earnings per share	$	0.31	$	(0.37	)	$	0.52	$	(0.17	)

Summary of anti-dilutive shares

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2013	2012	2013	2012
Anti-dilutive shares - option shares	187,770	223,951	187,770	223,951
Anti-dilutive shares - warrant shares	0	298,618	0	298,618
Total anti-dilutive shares	187,770	522,569	187,770	522,569