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Earning Per Share (Tables)

6 Months Ended

Jun. 30, 2012

The computation of basic and diluted earnings per share is shown below (in thousands except per share data):


	Three months ended June 30,						Six months ended June 30,
	2012			2011			2012			2011
Net income per consolidated statements of income	$	4,336		$	3,891		$	8,683		$	7,168
Net earnings allocated to participating securities		(17	)		(12	)		(33	)		(23	)

Net earnings allocated to common stock	$	4,319		$	3,879		$	8,650		$	7,145


Basic earnings per common share computation:
Distributed earnings allocated to common stock	$	2,044		$	2,021		$	4,084		$	4,038
Undistributed earnings allocated to common stock		2,275			1,858			4,565			3,107

Net earnings allocated to common stock	$	4,319		$	3,879		$	8,649		$	7,145


Weighted average common shares outstanding, including shares considered participating securities		12,440			12,291			12,421			12,277
Less: Average participating securities		(46	)		(36	)		(43	)		(37	)

Weighted average shares		12,394			12,255			12,378			12,240


Basic earnings per common share	$	0.35		$	0.32		$	0.70		$	0.58


Diluted earnings per common share computation:
Net earnings allocated to common stock	$	4,319		$	3,879		$	8,650		$	7,145


Weighted average common shares outstanding for basic earnings per common share		12,394			12,255			12,378			12,240
Add: Dilutive effects of assumed exercises of stock options		3			6			3			7

Weighted average shares and dilutive potential common shares		12,397			12,261			12,381			12,247


Diluted earnings per common share	$	0.35		$	0.32		$	0.70		$	0.58