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Earnings Per Share
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
 
Basic earnings per share (EPS), which excludes dilution, is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period.  Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, stock appreciation rights settled in stock or restricted stock awards, result in the issuance of common stock which shares in the earnings of the Company.  A reconciliation of the numerators and denominators of the basic and diluted EPS computations is as follows:
Basic Earnings Per Share
 
For the Three Months
Ended September 30,
 
For the Nine Months Ended September 30,
(In thousands, except share and per share amounts)
 
2013
 
2012
 
2013
 
2012
Net Income
 
$
2,969

 
$
2,456

 
$
6,039

 
$
5,878

Less: Preferred stock dividends and accretion
 
(87
)
 
(87
)
 
(262
)
 
(262
)
Income available to common shareholders
 
$
2,882

 
$
2,369

 
$
5,777

 
$
5,616

Weighted average shares outstanding
 
10,899,086

 
9,602,473

 
10,020,057

 
9,588,321

Basic earnings per share
 
$
0.26

 
$
0.25

 
$
0.58

 
$
0.59

 
Diluted Earnings Per Share
 
For the Three Months
Ended September 30,
 
For the Nine Months Ended September 30,
(In thousands, except share and per share amounts)
 
2013
 
2012
 
2013
 
2012
Net Income
 
$
2,969

 
$
2,456

 
$
6,039

 
$
5,878

Less: Preferred stock dividends and accretion
 
(87
)
 
(87
)
 
(262
)
 
(262
)
Income available to common shareholders
 
$
2,882

 
$
2,369

 
$
5,777

 
$
5,616

Weighted average shares outstanding
 
10,899,086

 
9,602,473

 
10,020,057

 
9,588,321

Effect of dilutive stock options
 
59,725

 
32,866

 
59,977

 
24,881

Weighted average shares of common stock and common stock equivalents
 
10,958,811

 
9,635,339

 
10,080,034

 
9,613,202

Diluted earnings per share
 
$
0.26

 
$
0.25

 
$
0.57

 
$
0.58



During the nine month periods ended September 30, 2013 and 2012, options to purchase 202,355 and 364,209 shares of common stock, respectively, were not factored into the calculation of dilutive stock options because they were anti-dilutive.