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Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

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

		2013			2012			2011
Net income		$	1,680,809		$	1,402,063		$	1,030,052
Less: Preferred stock dividend requirements			1,500,000			1,229,780			651,119
Less: Preferred stock accretion			71,381			63,924			36,718
Net income applicable to common stock		$	109,428		$	108,359		$	342,215
Average number of common shares outstanding			6,547,074			6,500,396			6,500,396
Effect of dilutive stock options			115,213			50,136			-
Average number of common shares outstanding used to calculate diluted earnings per common share			6,662,287			6,550,532			6,500,396

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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