Earnings per Common Share

9 Months Ended

Sep. 30, 2011

Earnings per Common Share [Abstract]

Earnings per Common Share

Note 3.  Earnings per Common Share

     Earnings per common share amounts are computed based on the weighted average number of shares of common stock issued during the period (retroactively adjusted for stock splits and stock dividends), including Dividend Reinvestment Plan shares issuable upon reinvestment of dividends declared, and reduced for shares held in treasury.

The following table illustrates the calculation for the periods ended September 30, as adjusted for the cash dividends declared on the preferred stock:

For The Third Quarter Ended September 30,	2011		2010
Net income, as reported	$	820,624	$	787,805
Less: dividends to preferred shareholders		46,875		46,875
Net income available to common shareholders	$	773,749	$	740,930
Weighted average number of common shares
used in calculating earnings per share		4,687,718		4,591,530
Earnings per common share	$	0.17	$	0.16

For The Nine Months Ended September 30,	2011		2010
Net income, as reported	$	2,636,811	$	2,459,250
Less: dividends to preferred shareholders		140,625		140,625
Net income available to common shareholders	$	2,496,186	$	2,318,625
Weighted average number of common shares
used in calculating earnings per share		4,662,261		4,574,857
Earnings per common share	$	0.54	$	0.51