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Earnings Per Share
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract] {1}  
Earnings Per Share

NOTE 5: EARNINGS PER SHARE

 

 

Three Months Ended March 31,

 

2012

 

2011

 

(In Thousands, Except

 

Per Share Data)

 

 

 

 

Basic:

 

 

 

Average shares outstanding

13,491

 

13,454

Net income available to common shareholders

$7,353

 

$5,048

Per share amount

$0.54

 

$0.38

 

 

 

 

Diluted:

 

 

 

Average shares outstanding

13,491

 

13,454

Net effect of dilutive stock options and warrants – based on the treasury

 

 

 

stock method using average market price

62

 

569

Diluted shares

13,553

 

14,023

Net income available to common shareholders

$7,353

 

$5,048

Per share amount

$0.54

 

$0.36

 

Options to purchase 465,067 and 498,535 shares of common stock were outstanding at March 31, 2012 and 2011, respectively, but were not included in the computation of diluted earnings per share for each period because the options’ exercise prices were greater than the average market prices of the common shares for the three months ended March 31, 2012 and 2011, respectively.