v2.3.0.9
Earnings Per Common Share for the Nine-Month Periods
9 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings Per Share For Nine Months Period [Text Block]
11. Earnings Per Common Share for the Nine-Month Periods

 

Basic earnings per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share gives effect to the increase in the average shares outstanding which would have resulted from the exercise of dilutive stock options. The components of basic and diluted earnings per share for the nine months ended December 31, 2011 and 2010 were computed as follows (dollar amounts in thousands except share data):

 

          Weighted        
          Average     Per Share  
          Shares     Amount  
                   
For the Nine-Months Ended December 31, 2011:                        
                         
Basic Earnings per Common Share:                        
Income available to common stockholders   $ 1,531       410,897     $ 3.73  
                         
Effect of Dilutive Securities:                        
Unearned incentive plan shares             16,171          
                         
Diluted Earnings per Share:                        
Income available to common stockholders   $ 1,531       427,068     $ 3.58  
                         
For the Nine-Months Ended December 31, 2010:                        
                         
Basic Earnings per Common Share:                        
Income available to common stockholders   $ 1,343       412,930     $ 3.25  
                         
Effect of Dilutive Securities:                        
Unearned incentive plan shares             16,132          
                         
Diluted Earnings per Common Share:                        
Income available for common stockholders   $ 1,343       429,062     $ 3.13