Earnings per share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings per share

Note 3 – Earnings per share

Earnings per share are based upon the weighted average number of shares outstanding during the period. Diluted earnings per share further assume the issuance of any potentially dilutive shares. For the three-month period ended September 30, 2013, 48,220 shares related to stock options outstanding were dilutive and none were antidilutive, and for the nine-month period ended September 30, 2013, 38,575 shares related to stock options outstanding were dilutive and 9,645 were antidilutive. For the three-month and nine-month periods ended September 30, 2012, 40,317 shares related to stock options outstanding were dilutive and 25,866 were antidilutive.

The following table presents information about the number of shares used to compute earnings per share and the results of the computations:

	(Unaudited)
	Three months ended September 30,				Nine months ended September 30,
	2013		2012		2013		2012
Weighted average shares outstanding		1,558,901		1,555,972		1,557,306		1,555,756
Stock options		9,063		2,065		5,491		---
Shares used to compute diluted  earnings per share		1,567,964		1,558,037		1,562,797		1,555,756
Basic earnings per share	$	0.45	$	0.57	$	1.30	$	1.28
Diluted earnings per share	$	0.45	$	0.56	$	1.29	$	1.28