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v2.4.0.6
Earnings Per Share (EPS)
3 Months Ended
Mar. 31, 2012
Earning Per Share (EPS) [Abstract]  
Earnings Per Share (EPS)

Note K – Earnings Per Share (EPS)

Basic and diluted net income per common share calculations are as follows (dollars in thousands, except per share data):

 

                 
     For the three months
ended March 31,
 
     2012     2011  

Basic EPS:

                

Net income as reported

   $ 2,082      $ 2,025   

Preferred stock net accretion

     —          (4

Cumulative preferred stock dividend earned

     (250     (125
    

 

 

   

 

 

 

Net income available to common stock holders

   $ 1,832      $ 1,896   
    

 

 

   

 

 

 

Weighted average common shares outstanding

     5,834,173        5,773,772   

Net income per common share – basic

   $ 0.31      $ 0.33   
    

 

 

   

 

 

 

Dilutive EPS:

                

Net income available to common stock holders

   $ 1832      $ 1,896   
    

 

 

   

 

 

 

Weighted average common shares outstanding

     5,834,173        5,773,772   

Effect of dilutive securities, options

     9,841        12,717   
    

 

 

   

 

 

 

Average common shares outstanding – diluted

     5,844,014        5,786,489   

Net income per common share – diluted

   $ 0.31      $ 0.33