EARNINGS (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

7. EARNINGS (LOSS) PER SHARE

The reconciliation of the numerators and denominators of the basic and diluted EPS is as follows:

	Three Months Ended
(Amounts in thousands,	March 31,
except per share data)	2013			2012
Basic:
Net income/(loss)	$	122		$	(289	)
Less:
Preferred stock dividends		(250	)		(250	)
Accretion on preferred stock discount		(14	)		(14	)
Net income (loss) available to common shareholders	$	(142	)	$	(553	)
Weighted average common shares		4,786			4,761
Diluted:
Weighted average common shares		4,786			4,761
Dilutive effect of stock options and warrants		-			-
Weighted average common and incremental shares		4,786			4,761
Earnings (Loss) Per Common Share:
Basic	$	(0.03	)	$	(0.12	)
Diluted	$	(0.03	)	$	(0.12	)

Since the Corporation is reporting a net loss available to common shareholders for all periods presented, no stock options or warrants were evaluated for dilutive purposes.