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Net Income per Share
 12 Months Ended
Dec. 31, 2012
Net Income per Share [Abstract]  
Net Income per Share

17.  Net Income per Share

 

The following is a reconciliation of the calculation of basic and diluted net income per share for the past two years:  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the years ended December 31,

(In thousands, except per share amounts)

 

2012

 

2011

Net income

 

$
4,244 

 

$
2,546 

Less: Preferred stock dividends and discount accretion

 

 
1,602 

 

 
1,558 

Income available to common shareholders

 

$
2,642 

 

$
988 

Weighted average common shares outstanding - Basic

 

 
7,477 

 

 
7,333 

Plus: Potential dilutive common stock equivalents

 

 
317 

 

 
402 

Weighted average common shares outstanding - Diluted

 

 
7,794 

 

 
7,735 

Net income per common share - Basic

 

$
0.35 

 

$
0.13 

Net income per common share - Diluted

 

 
0.34 

 

 
0.13 

Stock options and common stock excluded from the income per share calculation as their effect would have been anti-dilutive

 

 
506 

 

 
372 

 

The "potential dilutive common stock equivalents" shown in the table above includes the impact of 764,778 common stock warrants issued to the U.S. Department of Treasury under the Capital Purchase Program in December 2008, utilizing the Treasury stock method.  These warrants were dilutive for the years ended December 31, 2012 and 2011.