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Basic and Diluted Earnings Per Share
 12 Months Ended
Dec. 31, 2012
Basic and Diluted Earnings Per Share  
Basic and Diluted Earnings Per Share Text Block

NOTE 2: BASIC AND DILUTED EARNINGS PER SHARE

 

Basic net earnings per share is computed by dividing net earnings by the weighted average common shares outstanding for the year. Diluted net earnings per share reflect the potential dilution that could occur if the Company's potential common stock was issued. As of December 31, 2012, 2011, and 2010, the Company had no options or other equity awards issued or outstanding, and therefore, no dilutive effect to consider for the diluted earnings per share calculation.

 

A reconciliation of the numerator and denominator of the basic and diluted earnings per share computation for the years ended December 31, 2012, 2011 and 2010, respectively, is presented below.

 

     Year ended December 31
(Dollars in thousands, except share and per share data)  2012  2011  2010
Basic and diluted:         
Net earnings $6,763 $5,538 $5,346
Weighted average common shares outstanding  3,642,831  3,642,735  3,642,851
 Earnings per share $1.86 $1.52 $1.47