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Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2012

Earnings per Share [Abstract]

Earning per share - basic and diluted

		For the Three Months Ended June 30,								For the Six Months Ended June 30,
		2012				2011				2012				2011
Basic earnings per common share:
Net income		$	740,031			$	1,408,494			$	2,190,766			$	2,362,111
Less:
Preferred stock dividends			295,723				382,390				665,506				752,173
Accretion of discount on preferred stock			396,380				119,118				515,499				238,237
Net income available to common shareholders		$	47,928			$	906,986			$	1,009,761			$	1,371,701
Basic earnings per share		$	0.01			$	0.19			$	0.21			$	0.28
Diluted earnings per common share:
Net income		$	740,031			$	1,408,494			$	2,190,766			$	2,362,111
Less:
Preferred stock dividends			295,723				382,390				665,506				752,173
Accretion of discount on preferred stock			396,380				119,118				515,499				238,237
Net income available to common shareholders		$	47,928			$	906,986			$	1,009,761			$	1,371,701
Average shares outstanding			4,839,114				4,839,114				4,839,114				4,839,114
Effect of dilutive stock options			—				—				—				—
Average shares outstanding including dilutive stock options			4,839,114				4,839,114				4,839,114				4,839,114
Diluted earnings per share		$	0.01			$	0.19			$	0.21			$	0.28

Summary of anti-dilutive shares

		Three Months Ended June 30,								Six Months Ended June 30,
		2012				2011				2012				2011
Anti-dilutive shares - option shares			221,183				270,835				221,183				270,835
Anti-dilutive shares - warrant shares			287,133				287,133				287,133				287,133
Total anti-dilutive shares			508,316				557,968				508,316				557,968

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (c)

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



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations.

+ References

No definition available.

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