Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
6 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share
(4) Earnings Per Share

Basic earnings per share ("EPS") have been computed by dividing net income by the weighted average number of shares of common stock outstanding during each period. Shares issued during the period are weighted for the portion of the period that they were outstanding. Our calculation of diluted earnings per common share includes the dilutive effects for the assumed vesting of restricted stock awards.
 
During the first quarter of 2012, we determined that our restricted stock awards should be included in our diluted weighted average common shares outstanding.   We have corrected the diluted weighted average common shares outstanding as of June 30, 2011 to include the dilutive effect of the restricted stock awards.   The effect of this change was inconsequential to the June 30, 2011 financial statements.

   
Three months
 
Six months
   
ended June 30,
 
ended June 30,
   
2012
 
2011
 
2012
 
2011
                 
Basic weighted average common shares outstanding
 
5,286,706
 
5,237,337
 
5,276,902
 
5,225,899
Effect of dilutive shares
 
25,673
 
30,948
 
25,553
 
29,248
Diluted weighted average common shares outstanding
 
5,312,379
 
5,268,285
 
5,302,455
 
5,255,147