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

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

 
Three months ended
 
March 31,
 
(in thousands,
except per share data)
 
2012
 
2011
Numerator:
 
 
 
Net income
$
3,508

 
$
2,497

Denominator for basic net income per common share:
 
 
 
Weighted average common shares outstanding
12,169

 
12,175

Denominator for diluted net income per share:
 
 
 
Weighted average common shares outstanding
12,169

 
12,175

Dilutive effect of stock options and restricted stock
93

 
110

Diluted weighted average shares
12,262

 
12,285

Earnings per common share:
 
 
 
Basic
$
0.29

 
$
0.21

Diluted
$
0.29

 
$
0.20


A total of 49,586 stock options for the three months ended March 31, 2012 and a total of 117,000 stock options for the three months ended March 31, 2011 were excluded from the diluted weighted average shares as their effect would be anti-dilutive.