Note 5 - Earnings Per Share

3 Months Ended

Jun. 30, 2011

Earnings Per Share [Text Block]

(5)           Earnings Per Share

Basic earnings per share (“EPS”) are computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity.

The difference between the common shares issued and the common shares outstanding for the purposes of calculating basic EPS is a result of the unallocated ESOP shares.

The calculated basic and dilutive EPS are as follows:

	Three Months Ended June 30,
	2011		2010
Numerator	$	111,188	$	131,776
Denominators:
Basic shares outstanding		1,583,460		1,580,256
Effect of dilutive securities	─		─
Dilutive shares outstanding		1,583,460		1,580,256
Earnings per share:
Basic	$	.07	$	.08
Dilutive	$	.07	$	.08