Net Income Per Common Share

6 Months Ended

Jun. 30, 2011

NET INCOME PER COMMON SHARE [Abstract]

Earnings Per Share [Text Block]

NET INCOME PER COMMON SHARE

Basic earnings per common share exclude all dilutive stock options and are computed using the weighted average number of common shares outstanding during the period. The diluted earnings per common share calculation reflect the potential dilutive effect of securities that could share in earnings of an entity.  Outstanding options excluded from the diluted earnings per share calculation because they would have an anti-dilutive effect were 254,166 and 308,166 for the three months ended June 30, 2011 and 2010, and 254,166 and 258,166 for the six months ended June 30,2011 and 2010, respectively.

	Three Months Ended June 30,
	2011		2010
Basic earnings per share
Income available to common shareholder	$	254,544	$	511,195
Weighted average shares outstanding	4,796,649		4,702,882
Basic earnings per share	$	0.05	$	0.11
Diluted earnings per share
Income available to common shareholder	$	254,544	$	511,195
Weighted average shares outstanding	4,796,649		4,702,882
Dilutive effect of stock options	88,120		83,930
Total weighted average shares outstanding	4,884,769		4,786,812
Diluted earnings per share	$	0.05	$	0.11

	Six Months Ended June 30,
	2011		2010
Basic earnings per share
Income available to common shareholder	$	442,436	$	1,011,453
Weighted average shares outstanding	4,750,674		4,702,882
Basic earnings per share	$	0.09	$	0.22
Diluted earnings per share
Income available to common shareholder	$	442,436	$	1,011,453
Weighted average shares outstanding	4,750,674		4,702,882
Dilutive effect of stock options	88,836		104,358
Total weighted average shares outstanding	4,839,510		4,807,240
Diluted earnings per share	$	0.09	$	0.21