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Earnings Per Common Share
 12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Common Share

 

Note 16. Earnings Per Common Share

 

Earnings per common share are calculated as follows:

 

    2012     2011     2010  
Basic:                        
Net income   $ 2,665,080     $ 2,993,093     $ 2,064,785  
Weighted average common shares outstanding     2,728,072       2,710,455       2,690,218  
Basic net income per share   $ 0.98     $ 1.10     $ 0.76  

 

Diluted earnings per share calculations were not required for 2012, 2011, and 2010 as there were no options outstanding at December 31, 2012, 2011, and 2010.