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

Earnings per basic and diluted weighted average common share outstanding was calculated as follows for the three months ended March 31, 2012 and 2011:

 

     Three Months Ended March 31,  
     2012      2011  

Net income (in thousands)

    $ 4,734       $ 2,932   
  

 

 

     

 

 

  

Basic weighted-average common shares outstanding

      9,369,088         9,304,481   

Effect of potentially dilutive common shares(1)

     43,078         39,339   
  

 

 

     

 

 

  

Diluted weighted-average common shares outstanding

      9,412,166         9,343,820   
  

 

 

     

 

 

  

Earnings per common share:

      

Earnings per basic common share

    $ 0.51       $ 0.32   

Earnings per diluted common share

    $ 0.50       $ 0.31   

Antidilutive shares not included in diluted common share calculation

      34,000         45,600   

 

(1) Represents the effect of the assumed exercise of stock options and the vesting of restricted stock units and performance stock awards, based on the treasury stock method.