Net Income Per Common Share

9 Months Ended

Sep. 30, 2012

Earnings Per 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 were excluded from the diluted earnings (loss) per share calculation because they would have an anti-dilutive effect were 170,799 for the three and nine months ended September 30, 2012 and 465,965 for the three and nine months ended September 30, 2011.

	Three Months Ended September 30,
	2012		2011
Basic earnings (loss) per share
Income (loss) available to common shareholders	$	688,524	$	(469,888	)
Weighted average shares outstanding	4,826,182		4,826,182
Basic earnings (loss) per share	$	0.14	$	(0.10	)
Diluted earnings (loss) per share
Income (loss) available to common shareholders	$	688,524	$	(469,888	)
Weighted average shares outstanding	4,826,182		4,826,182
Dilutive effect of stock options	32,915		—
Total weighted average shares outstanding	4,859,097		4,826,182
Diluted earnings (loss) per share	$	0.14	$	(0.10	)

	Nine Months Ended September 30,
	2012		2011
Basic earnings (loss) per share
Income (loss) available to common shareholder	$	984,686	$	(27,452	)
Weighted average shares outstanding	4,826,182		4,778,441
Basic earnings (loss) per share	$	0.20	$	(0.01	)
Diluted earnings (loss) per share
Income (loss) available to common shareholder	$	984,686	$	(27,452	)
Weighted average shares outstanding	4,826,182		4,778,441
Dilutive effect of stock options	35,595		—
Total weighted average shares outstanding	4,861,777		4,778,441
Diluted earnings (loss) per share	$	0.20	$	(0.01	)