Three Months Ended

June 30,

Six Months Ended

June 30,

(in thousands, except per share data)

2012

2011

2012

2011

Numerator:

Operating income available to common shareholders

$

1,753

$

1,267

$

3,813

$

2,062

Denominator:

Weighted average common shares outstanding

6,972

7,191

6,963

7,184

Effect of dilutive securities:

Restricted stock

77

78

87

85

Stock options

186

68

166

38

Weighted average common shares outstanding – assuming dilution

7,235

7,337

7,216

7,307

Earnings per common share

$

0.25

$

0.18

$

0.55

$

0.29

Earnings per common share – assuming dilution

$

0.24

$

0.17

$

0.53

$

0.28