EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

2. EARNINGS PER SHARE

The calculations of earnings per common share are as follows:

	For the three months ended March 31,
	2013		2012
Basic
Net profit	$	1,114,000	$	1,217,000
Average common shares outstanding		17,516,382		17,304,781
Earnings per common share - basic	$	0.06	$	0.07
Diluted
Net profit	$	1,114,000	$	1,217,000
Average common shares outstanding		17,516,382		17,304,781
Equity compensation		229,973		690
Average common shares outstanding - diluted		17,746,355		17,305,471
Earnings per common share – diluted	$	0.06	$	0.07