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1. BASIS OF PRESENTATION (Tables)

9 Months Ended

Sep. 30, 2016

Basis Of Presentation Tables

Earnings Per Share

		Three months ended September 30,								Nine months ended September 30,
		2016				2015				2016				2015
Numerator

Net income		$	599,811			$	454,256			$	1,564,873			$	1,278,725
Accrued preferred stock dividends			(131,832	)			-				(325,418	)			-

Net income applicable to common shares		$	467,979			$	454,256			$	1,239,455			$	1,278,725

Denominator

Basic weighted average common shares			4,994,061				4,956,163				4,993,571				4,916,467
Dilutive stock options			4,383				51,720				4,166				48,053

Diluted weighted average common shares			4,998,444				5,007,883				4,997,737				4,964,520

Basic income per common share
after preferred dividends		$	0.09			$	0.09			$	0.25			$	0.26

Diluted income per common share
after preferred dividends		$	0.09			$	0.09			$	0.25			$	0.26