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Earnings Per Share
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings Per Share

Note 12 – Earnings per share

Basic EPS excludes dilution and is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, or resulted in the issuance of common stock that then shared in the earnings of the entity. All amounts have been restated for the stock dividend in 2010.

The basic and diluted earnings (loss) per share calculations are as follows:

         
  2011     2010
Numerator:        
Net income available to stockholders $ 600 $ 1,820
 
Basic EPS weighted average shares outstanding 3,324,915   3,299,234
Effect of dilutive securities:        
Incremental shares attributable to Stock Option Plan   -   24,825
 
Diluted EPS weighted-average shares outstanding 3,324,915   3,324,059
 
Basic earnings (loss) per share $ 0.18 $ 0.55
Diluted earnings (loss) per share $ 0.18 $ 0.55

 

There were 204,912 option shares excluded from the 2010 earnings per share calculation because their effects were anti-dilutive. In 2011, all 216,886 option shares were excluded from the 2011 earnings per share calculation because their effects were ant-dilutive.