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Earnings Per Common Share
3 Months Ended
Mar. 31, 2012
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

NOTE 3. Earnings Per Common Share

Basic earnings per share represents income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. The number of potential common shares is determined using the treasury method and relates to outstanding stock options and unvested restricted stock grants.

The following table shows the weighted average number of shares used in computing earnings per share for the three months ended March 31, 2012 and 2011 and the effect on the weighted average number of shares of dilutive potential common stock. Potential dilutive common stock had no effect on income available to common shareholders.

     
  Three Months Ended
  March 31,
  2012 2011
 
Average number of common shares outstanding 3,316,005 3,274,898
Effect of dilutive common stock 8,751 6,688
Average number of common shares outstanding
used to calculate diluted earnings per share
3,324,756 3,281,586