RECONCILIATIONS OF BASIC AND DILUTED EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Reconciliations of Basic and Diluted Earnings Per Share

RECONCILIATIONS OF BASIC AND DILUTED EARNINGS PER COMMON SHARE ("EPS")

Basic EPS is computed by dividing net income after preferred stock dividends by the weighted average number shares of common stock outstanding for the period. Basic EPS excludes the dilutive effect that could occur if any options or warrants to purchase shares of common stock were exercised. Diluted EPS is computed by dividing net income by the sum of the weighted average number of shares of common stock outstanding for the period plus the number of additional shares of common stock that would have been outstanding if the potentially dilutive common shares had been issued.  There are no stock options or warrants outstanding for any of the periods being reported.