EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2014

SCHEDULE OF EARNINGS PER SHARE, BASIC AND DILUTED [Table Text Block]

		For the Three Months						For the Six Months
		Ended June 30,						Ended June 30,
		2014			2013			2014			2013
Income available to common stockholders:
- Net income	$	6,795,722		$	5,962,809		$	10,029,296		$	9,377,493
Less: Preferred stock dividend		(41,573	)		(56,854	)		(88,249	)		(112,246	)
Income available to common stockholders (Basic)	$	6,754,149		$	5,905,955		$	9,941,047		$	9,265,247
Add: Preferred stock dividend		41,573			56,854			88,249			112,246
Income available to common shareholders (Diluted)		6,795,722			5,962,809			10, 029,296			9,377,493
Weighted average number of shares:
-Basic		16,858,667			15,863,826			16,758,599			15,863,826
- Effect of dilutive preferred stock		777,760			1,130,100			835,287			1,130,100
- Effect of dilutive restricted stock units		11,681			-			13,495			-
- Effect of dilutive options		46,162			-			50,090			-
-Diluted		17,694,270			16,993,926			17,657,471			16,993,926
Net income per share
-Basic	$	0.40		$	0.37		$	0.59		$	0.58
-Diluted	$	0.38		$	0.35		$	0.57		$	0.55