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Earnings Per Share
 6 Months Ended
Jun. 30, 2011
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
NOTE 3 — EARNINGS PER SHARE
The Company provides dual presentation of Basic and Diluted earnings per share. Basic earnings per share utilizes net income as reported as the numerator and the actual average shares outstanding as the denominator. Diluted earnings per share includes any dilutive effects of options, warrants, and convertible securities.
There are no convertible securities that would affect the denominator in calculating basic and diluted earnings per share. The following tables set forth the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computation.
                                 
    For the Three     For the Six  
    Months Ended     Months Ended  
    June 30,     June 30,  
    2011     2010     2011     2010  
Weighted average common shares outstanding
    1,837,301       1,760,382       1,824,431       1,757,698  
 
                               
Average treasury stock shares
    (189,530 )     (189,530 )     (189,530 )     (189,530 )
 
                       
 
                               
Weighted average common shares and common stock equivalents used to calculate basic earnings per share
    1,647,771       1,570,852       1,634,901       1,568,168  
 
                               
Additional common stock equivalents (stock options) used to calculate diluted earnings per share
    149       1,232       75       1,574  
 
                       
 
                               
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share
    1,647,920       1,572,084       1,634,976       1,569,742  
 
                       
Options to purchase 9,000 shares of common stock were granted on May 9, 2011 at a strike price of $17.55 per share. The average share price for the period was $18.07 rendering the newly granted shared dilutive to earnings per share. The remaining options to purchase 81,528 shares of common stock at prices ranging from $22.33 to $40.24 were outstanding during the three and six months ended June 30, 2011 but were not included in the computation of diluted earnings per share as they were anti-dilutive due to the strike price being greater than the average market price for the six months ended June 30, 2011. Total options to purchase shares of common stock were 90,528 at prices ranging from $17.55 to $40.24 for the six months ended June 30, 2011. For the six months ended June 30, 2010, there were 89,077 options to purchase shares of common stock at prices ranging from $22.33 to $40.24 but were not included in the computation of diluted earnings per share.