Note 9 - Earnings Per Common Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 9. Earnings per Common Share

The following tables show the weighted average number of shares used in computing earnings per common share and the effect on weighted average number of shares of diluted potential common stock.

	For the Three Months Ended September 30,
	2014							2013
Dollars In Thousands, except share and per share data	Weighted Average Common Shares Outstanding		Net Income Available to Common Shareholders		Per Share Amount			Weighted Average Common Shares Outstanding		Net Income Available to Common Shareholders		Per Share Amount
Earnings per common share, basic		3,287,567	$	567	$	0.17			3,270,299	$	298	$	0.09
Series C Preferred Stock Dividends				210							180
Effect of dilutive securities:
Convertible preferred stock		2,240,000		-		(0.03	)		2,240,000		-		(0.00	)
Earnings per common share, diluted		5,527,567	$	777	$	0.14			5,510,299	$	478	$	0.09

	For the Nine Months Ended September 30,
	2014							2013
Dollars In Thousands, except share and per share data	Weighted Average Common Shares Outstanding		Net Income Available to Common Shareholders		Per Share Amount			Weighted Average Common Shares Outstanding		Net Income Available to Common Shareholders		Per Share Amount
Earnings per common share, basic		3,283,962	$	1,783	$	0.54			3,268,646	$	1,158	$	0.35
Series C Preferred Stock Dividends				630							180
Effect of dilutive securities:
Convertible preferred stock		2,240,000		-		(0.10	)		779,487		-		(0.02	)
Earnings per common share, diluted		5,523,962	$	2,413	$	0.44			4,048,133	$	1,338	$	0.33

At September 30, 2014 and 2013, stock options to purchase 384,560 and 413,710 shares, respectively, were outstanding. These options were not included in the calculation of diluted weighted average shares as their impact would be antidilutive.