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Earnings per Share (Tables) | 6 Months Ended
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Jun. 30, 2013
Earnings per Share |
Earning per share - basic and diluted |
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
|  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Basic earnings per common share: |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,812,283 |  | $ | 740,031 |  | $ | 1,675,734 |  | $ | 2,190,766 |
Less: |  |  |  |  |  |  |  |  |
Preferred stock dividends |  | 114,093 |  | 295,723 |  | 337,210 |  | 665,506 |
Accretion of discount on preferred stock |  | 206,166 |  | 396,380 |  | 278,039 |  | 515,499 |
Net income available to common shareholders |  | $ | 1,492,024 |  | $ | 47,928 |  | $ | 1,060,485 |  | $ | 1,009,761 |
Basic earnings per share |  | $ | 0.30 |  | $ | 0.01 |  | $ | 0.21 |  | $ | 0.20 |
Diluted earnings per common share: |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,812,283 |  | $ | 740,031 |  | $ | 1,675,734 |  | $ | 2,190,766 |
Less: |  |  |  |  |  |  |  |  |
Preferred stock dividends |  | 114,093 |  | 295,723 |  | 337,210 |  | 665,506 |
Accretion of discount on preferred stock |  | 206,166 |  | 396,380 |  | 278,039 |  | 515,499 |
Net income available to common shareholders |  | $ | 1,492,024 |  | $ | 47,928 |  | $ | 1,060,485 |  | $ | 1,009,761 |
Average shares outstanding |  | 5,032,679 |  | 5,032,679 |  | 5,032,679 |  | 5,032,679 |
Effect of dilutive stock options |  | 0 |  | 0 |  | 0 |  | 0 |
Average shares outstanding including dilutive stock options |  | 5,032,679 |  | 5,032,679 |  | 5,032,679 |  | 5,032,679 |
Diluted earnings per share |  | $ | 0.30 |  | $ | 0.01 |  | $ | 0.21 |  | $ | 0.20 |
Summary of anti-dilutive shares |
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
|  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Anti-dilutive shares - option shares |  | 188,491 |  | 230,030 |  | 188,491 |  | 230,030 |
Anti-dilutive shares - warrant shares |  | 0 |  | 298,618 |  | 0 |  | 298,618 |
Total anti-dilutive shares |  | 188,491 |  | 528,648 |  | 188,491 |  | 528,648 |

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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 + Details
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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 + Details
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