Earnings per Share

9 Months Ended

Sep. 30, 2011

Earnings per Share

The following table reconciles the numerators and denominators of the basic and diluted earnings per share computation.



	Three months ended				Nine months ended
	September 30,				September 30,
	(in thousands, except per share data)				(in thousands, except per share data)
	2011		2010		2011		2010
Numerator:
Net income	$	2,231	$	2,153	$	6,736	$	5,059
Denominator for basic net income per common share:
Weighted average common shares outstanding	12,179		12,108		12,151		12,105
Denominator for diluted net income per share:
Weighted average common shares outstanding	12,179		12,108		12,151		12,105
Dilutive effect of stock options and restricted stock	98		88		105		99
Diluted weighted average shares	12,277		12,196		12,256		12,204
Earnings per common share:
Basic	$	0.18	$	0.18	$	0.55	$	0.42
Diluted	$	0.18	$	0.18	$	0.55	$	0.41

A total of 75,942 stock options for the nine months ended September 30, 2011 and a total of 106,909 stock options for the nine months ended September 30, 2010 were excluded from the diluted weighted average shares as their effect would be anti-dilutive.