| Earnings Per Share [Text Block] |
Note 7 - Earnings Per Share
Earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding. A reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the three and nine months ended September 30, 2011 and 2010 are as follows:
(Dollars in thousands, except per share data)
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Three Months Ended
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Nine Months Ended
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September 30,
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September 30,
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2011
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2010
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2011
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2010
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Basic earnings per common share:
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Net income as reported
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$
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1,130
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$
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1,041
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$
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3,981
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$
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4,046
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Weighted average common shares outstanding:
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2,832,648
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2,823,684
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2,831,068
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2,822,522
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Basic earnings per common share:
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$
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0.40
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$
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0.37
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$
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1.41
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$
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1.43
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Diluted earnings per common share:
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Net income as reported
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$
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1,130
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$
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1,041
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$
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3,981
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$
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4,046
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Weighted average common shares outstanding:
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2,832,648
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2,823,684
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2,831,068
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2,822,522
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Add: Dilutive effect of assumed stock
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option exercises:
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-
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-
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-
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-
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Weighted average common and dilutive
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potential common shares outstanding:
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2,832,648
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2,823,684
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2,831,068
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2,822,522
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Diluted earnings per common share:
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$
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0.40
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$
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0.37
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$
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1.41
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$
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1.43
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