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Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2013

Earnings per Share [Abstract]

Earning per share - basic and diluted

		Three Months Ended March 31,
		2013				2012
Basic (loss) earnings per common share:
Net (loss) income		$	(136,549	)		$	1,450,735
Less:
Preferred stock dividends			223,117				369,783
Accretion of discount on preferred stock			71,873				119,119
Net (loss) income available to common shareholders		$	(431,539	)		$	961,833
Basic (loss) earnings per share		$	(0.09	)		$	0.20
Diluted (loss) earnings per common share:
Net (loss) income		$	(136,549	)		$	1,450,735
Less:
Preferred stock dividends			223,117				369,783
Accretion of discount on preferred stock			71,873				119,119
Net (loss) income available to common shareholders		$	(431,539	)		$	961,833
Average shares outstanding			4,839,114				4,839,114
Effect of dilutive stock options			0				0
Average shares outstanding including dilutive stock options			4,839,114				4,839,114
Diluted (loss) earnings per share		$	(0.09	)		$	0.20

Summary of anti-dilutive shares

		Three Months Ended March 31,
		2013				2012
Anti-dilutive shares – option shares			181,246				232,678
Anti-dilutive shares – warrant shares			287,133				287,133
Total anti-dilutive shares			468,379				519,811

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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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.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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