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Earnings Per Share
6 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

9. Earnings per Share

Earnings per basic and diluted weighted average common share outstanding were calculated as follows for the three and six months ended June 30, 2012 and 2011:

 

                                 
    Three months ended June 30,     Six months ended June 30,  
    2012     2011     2012     2011  

Net income (in thousands)

  $ 3,604     $ 4,977     $ 8,338     $ 7,909  
   

 

 

   

 

 

   

 

 

   

 

 

 

Basic weighted-average common shares outstanding

    9,374,208       9,326,873       9,371,648       9,315,739  

Effect of potentially dilutive common shares (1)

    58,871       28,508       50,868       32,757  
   

 

 

   

 

 

   

 

 

   

 

 

 

Diluted weighted-average common shares outstanding

    9,433,079       9,355,381       9,422,516       9,348,496  
   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings per common share:

                               

Earnings per basic common share

  $ 0.38     $ 0.53     $ 0.89     $ 0.85  

Earnings per diluted common share

  $ 0.38     $ 0.53     $ 0.88     $ 0.85  

Antidilutive shares not included in diluted common share calculation

    59,541       34,000       44,770       45,801  

 

(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.