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Earnings (Loss) Per Common Share (Tables)
12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

Earnings (loss) per common share have been computed based on the following:

 

  2012  2011  2010 
          
Net income (loss) $1,402,063  $1,030,052  $(4,707,521)
Less: Preferred stock dividend requirements  1,229,780   651,119   34,463 
Less: Preferred stock accretion  63,924   36,718   - 
             
Net income (loss) applicable to common stock $108,359  $342,215  $(4,741,984)
             
Average number of common shares outstanding  6,500,396   6,500,396   6,500,396 
             
Effect of dilutive stock options  50,136   -   - 
             
Average number of common shares outstanding used to calculate diluted earnings (loss) per common share  6,550,532   6,500,396   6,500,396