Earnings Per Common Share

6 Months Ended

Jun. 30, 2012

Earnings Per Common Share [Abstract]

Earnings Per Common Share

NOTE 7. EARNINGS PER COMMON SHARE

Presented below is a summary of the components used to calculate basic and diluted earnings per common share for the six months ended June 30, 2012 and 2011.

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2012			2011		2012			2011
Net income available to common shareholders	$	(388,708	)	$	158,585	$	(1,201,365	)	$	193,887
Weighted average common shares outstanding		10,234,003			9,711,258		10,051,429			9,806,899
Net effect of the assumed exercise of stock options based on the treasury stock method using the average market price for the period		104,843			111,481		104,843			111,481
Average number of common shares outstanding used to calculate diluted earnings per common share		10,338,846			9,822,739		10,156,272			9,918,380