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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
13.
Earnings Per Share
 
The following is a reconciliation of the basic and diluted earnings per share computation for the six months ended June 30, 2013 and 2012:
 
 
 
For the six months ended
 
 
 
June 30,
 
 
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Net income available to the company’s common shareholders
 
$
1,534,416
 
$
1,816,401
 
Weighted average shares outstanding - Basic
 
 
4,620,000
 
 
4,566,160
 
Options
 
 
22,383
 
 
147,917
 
Weighted shares outstanding - Diluted
 
 
4,642,383
 
 
4,714,077
 
 
 
 
 
 
 
 
 
Earnings per share - Basic
 
$
0.33
 
$
0.40
 
Earnings per share - Diluted
 
$
0.33
 
$
0.39
 
 
For the six months ended June 30, 2013 and 2012, 22,383 and 147,917 shares of the 450,000 stock options were exercisable and included in the diluted EPS calculation.