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Earnings per Share (Tables) | 9 Months Ended
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Sep. 30, 2012
Earnings per Share [Abstract] |
Earning per share - basic and diluted |
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Basic (loss) earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (1,571,541 | ) |  | $ | 1,515,639 |  |  | $ | 619,225 |  |  | $ | 3,877,750 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock dividends |  |  | 228,188 |  |  |  | 378,187 |  |  |  | 893,694 |  |  |  | 1,130,360 |
Accretion of discount on preferred stock |  |  | 71,873 |  |  |  | 119,119 |  |  |  | 587,372 |  |  |  | 357,356 |
Net (loss) income available to common shareholders |  | $ | (1,871,602 | ) |  | $ | 1,018,333 |  |  | $ | (861,841 | ) |  | $ | 2,390,034 |
Basic (loss) earnings per share |  | $ | (0.39 | ) |  | $ | 0.21 |  |  | $ | (0.18 | ) |  | $ | 0.49 |
Diluted (loss) earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (1,571,541 | ) |  | $ | 1,515,639 |  |  | $ | 619,225 |  |  | $ | 3,877,750 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock dividends |  |  | 228,188 |  |  |  | 378,187 |  |  |  | 893,694 |  |  |  | 1,130,360 |
Accretion of discount on preferred stock |  |  | 71,873 |  |  |  | 119,119 |  |  |  | 587,372 |  |  |  | 357,356 |
Net (loss) income available to common shareholders |  | $ | (1,871,602 | ) |  | $ | 1,018,333 |  |  | $ | (861,841 | ) |  | $ | 2,390,034 |
Average shares outstanding |  |  | 4,839,114 |  |  |  | 4,839,114 |  |  |  | 4,839,114 |  |  |  | 4,839,114 |
Effect of dilutive stock options |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Average shares outstanding including dilutive stock options |  |  | 4,839,114 |  |  |  | 4,839,114 |  |  |  | 4,839,114 |  |  |  | 4,839,114 |
Diluted (loss) earnings per share |  | $ | (0.39 | ) |  | $ | 0.21 |  |  | $ | (0.18 | ) |  | $ | 0.49 |
Summary of anti-dilutive shares |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Anti-dilutive shares - option shares |  |  | 215,343 |  |  |  | 270,835 |  |  |  | 215,343 |  |  |  | 270,835 |
Anti-dilutive shares - warrant shares |  |  | 287,133 |  |  |  | 287,133 |  |  |  | 287,133 |  |  |  | 287,133 |
Total anit-dilutive shares |  |  | 502,476 |  |  |  | 557,968 |  |  |  | 502,476 |  |  |  | 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. + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations. + References No definition available. + Details
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