Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

Note 13

EARNINGS PER SHARE

 

The following table sets forth the computation of basic and diluted earnings per share:

 

(Dollars in Thousands, Except Per Share Data) 2011   2010   2009  
Numerator:            
Net Income (Loss) $ 4,897   $ (413 ) $ (3,471 )
                   
Denominator:                  
Denominator for Basic Earnings Per Share Weighted-Average Shares   17,139,558     17,075,867     17,043,964  
Effects of Dilutive Securities Stock Compensation Plans   832     -     -  
                   
Denominator for Diluted Earnings Per Share Adjusted Weighted-Average Shares and Assumed Conversions   17,140,390     17,075,867     17,043,964  
                   
Basic Earnings Per Share $ 0.29   $ (0.02 )  $ (0.20 )
                   
Diluted Earnings Per Share $ 0.29   $ (0.02 )  $ (0.20 )

 

Stock options for 23,138 and 37,246 shares of common stock related to awards earned in 2003 and 2004, respectively, were not considered in computing diluted earnings per common share for 2011, 2010 and 2009 because they were anti-dilutive.