3. Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

3. Schedule Of Earnings Per Share

The following tables illustrate the calculation of earnings per common share for the periods presented, as adjusted for the cash dividends declared on the preferred stock:

	Three Months Ended September 30,
	2014		2013
Net income, as reported	$	1,377,189	$	1,354,933
Less: dividends to preferred shareholders		20,313		20,313
Net income available to common shareholders	$	1,356,876	$	1,334,620
Weighted average number of common shares
used in calculating earnings per share		4,905,055		4,845,044
Earnings per common share	$	0.28	$	0.28

	Nine Months Ended September 30,
	2014		2013
Net income, as reported	$	3,733,140	$	3,635,055
Less: dividends to preferred shareholders		60,938		60,938
Net income available to common shareholders	$	3,672,202	$	3,574,117
Weighted average number of common shares
used in calculating earnings per share		4,889,086		4,831,084
Earnings per common share	$	0.75	$	0.74