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Earnings Per Share
 12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

 

15. Earnings Per Share

 

The following is a reconciliation of the basic and diluted earnings per share computation for the years ended December 31, 2012 and 2011:

 

    Year ended  
    December 31,  
    2012     2011  
Basic earnings per share                
Net income available to the company’s common shareholders   $ 3,206,151     $ 3,103,120  
Weighted average shares outstanding - Basic     4,578,151       4,514,329  
Earnings per share - Basic   $ 0.70     $ 0.69  
                 
                 
Diluted earnings per share                
Net income available to the company’s common shareholders   $ 3,206,151     $ 3,103,120  
Weighted average shares outstanding - Basic     4,578,151       4,514,329  
Options     23,756       -  
Weighted shares outstanding - Diluted     4,601,907       4,514,329  
Earnings per share - Diluted   $ 0.70     $ 0.69  

 

For the year ended December 31, 2012, 23,756 shares of the 450,000 stock options were exercisable and included in the diluted EPS calculation.