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Earnings Per Share
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

Note 4 – Earnings Per Share

 

Basic earnings per share (EPS) are computed on the basis of the weighted average number of shares outstanding during the period presented. Diluted EPS assumes the conversion of both the Convertible Preferred Stock $7.00 Series and the Convertible Preferred Stock $8.00 Series.

 

   (In Thousands Except per Share Amounts) 
   Three Months Ended March 31, 
Basic:  2012   Shares   2011   Shares 
Net Income  $1,807    15,692   $2,630    15,576 
Preferred Dividend   (52)             (52)          
Earnings Applicable to Common Stock  $1,755    15,692   $2,578    15,576 
                     
Basic EPS  $0.11        $0.17      
                     
Diluted:                    
Earnings Applicable to Common Stock  $1,755    15,692   $2,578    15,576 
$7.00 Series Preferred Dividend   24    167    24    167 
$8.00 Series Preferred Dividend   14    96    14    96 
Adjusted Earnings Applicable to  Common Stock  $1,793    15,955   $2,616    15,839 
                     
Diluted EPS  $0.11        $0.17