Common Stock and Earnings Per Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Common Stock and Earnings Per Share

NOTE 10. COMMON STOCK AND EARNINGS PER SHARE

Basic earnings per common share were computed by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share were determined based on the assumption of the conversion of stock options and restricted stock using the treasury stock method at average market prices for the periods.

	Year Ended December 31,
	2013		2012			2011
Income Available to Common Shareholders:
Income (Loss) from Continuing Operations	$	2,561,538	$	(301	)	$	(5,798,649	)
Discontinued Operations		1,121,709		599,503			1,092,458
Net Income (Loss)	$	3,683,247	$	599,202		$	(4,706,191	)
Weighted Average Shares Outstanding		5,739,383		5,717,937			5,724,147
Common Shares Applicable to Stock
Options Using the Treasury Stock Method		3,754		—			—
Total Shares Applicable to Diluted Earnings Per Share		5,743,137		5,717,937			5,724,147
Per Share Information:
Basic Net Income (Loss) Per Share
Income (Loss) from Continuing Operations	$	0.44	$	—		$	(1.01	)
Discontinued Operations		0.20		0.10			0.19
Net Income (Loss)	$	0.64	$	0.10		$	(0.82	)
Diluted Net Income (Loss) Per Share:
Income (Loss) from Continuing Operations	$	0.44	$	—		$	(1.01	)
Discontinued Operations		0.20		0.10			0.19
Net Income (Loss)	$	0.64	$	0.10		$	(0.82	)

The effect of 58,800, 198,300, and 205,113 potentially dilutive securities were not included for 2013, 2012, and 2011, respectively, as the effect would be antidilutive.

On April 26, 2012, the Company announced a voluntary Odd-Lot Buy-Back Program (the “Program”), whereby the Company offered to purchase shares from shareholders who owned less than 100 shares of the Company’s common stock as of April 26, 2012. The Program reflected the Company’s interest in reducing the ongoing costs associated with shareholder recordkeeping and communications and to assist shareholders who may be deterred from selling their small lots of stock due to the costs that would be incurred. The Company paid all costs associated with the Program and purchased 14,634 shares under the Program at a total cost of $453,654. The Program expired June 30, 2012. The Company did not provide any recommendation regarding shareholder participation and the decision was entirely that of each shareholder as to whether to sell shares in this Program.