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EARNINGS PER SHARE (Tables)
6 Months Ended
Jun. 30, 2012
Earnings Per Share  
Schedule of earnings per share, basic and diluted
 
   
Three months ended
June 30,
   
Six months ended
June 30,
 
(In thousands except per share data )
 
2012
   
2011
   
2012
   
2011
 
Net income available for stockholders:
  $ 2,173     $ 1,229     $ 3,805     $ 1,895  
Less:  Dividends paid Common Stock
    (734 )     -       (1,468 )     -  
Restricted shares of common stock
    (21 )     -       (42 )     -  
Undistributed income
  $ 1,418     $ 1,229     $ 2,295     $ 1,895  
                                 
Allocation of undistributed income:
                         
   Common Stock
  $ 1,375     $ 1,196     $ 2,226     $ 1,844  
Restricted shares of common stock
    43       33       69       51  
                                 
Basic shares outstanding:
                               
   Common Stock
    35,530       35,386       35,531       35,350  
Restricted shares of common stock
    1,138       1,008       1,118       990  
      36,668       36,394       36,649       36,340  
Diluted shares outstanding:
                               
   Common Stock
    35,530       35,386       35,531       35,350  
   Dilutive effect of stock options
    42       387       147       508  
      35,572       35,773       35,678       35,858  
Restricted shares of common stock
    1,138       1,008       1,118       990  
      36,710       36,781       36,796       36,848  
Basic earnings per share:
                               
  Common Stock:
                               
     Distributed earnings
  $ 0.02     $ -     $ 0.04     $ -  
     Undistributed income
    0.04       0.03       0.06       0.05  
    $ 0.06     $ 0.03     $ 0.10     $ 0.05  
Restricted shares of common stock:
                               
     Distributed earnings
  $ 0.02     $ -     $ 0.04     $ -  
     Undistributed income
    0.04       0.03       0.06       0.05  
    $ 0.06     $ 0.03     $ 0.10     $ 0.05  
Diluted earnings per share:
                               
  Common Stock:
                               
     Distributed earnings
  $ 0.02     $ -     $ 0.04     $ -  
     Undistributed income
    0.04       0.03       0.06       0.05  
    $ 0.06     $ 0.03     $ 0.10     $ 0.05  

 
Schedule of antidilutive securities excluded from computation of earnings per share
 
(shares in thousands)
 
Three months ended June 30,
   
Six months ended June 30,
 
   
2012
   
2011
   
2012
   
2011
 
Stock options
    42       42       42       42