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EARNINGS (LOSS) PER SHARE
 9 Months Ended
Sep. 30, 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
 
Nine Months Ended
 
(Amounts in thousands,
 
September 30,
 
September 30,
 
except per share data)
 
2013
 
2012
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income/(loss)
 
$
1,467
 
$
(751)
 
$
463
 
$
(5,180)
 
Less:
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock dividends
 
 
(250)
 
 
(250)
 
 
(750)
 
 
(750)
 
Accretion on preferred stock discount
 
 
(14)
 
 
(14)
 
 
(41)
 
 
(41)
 
Net income (loss) available to common shareholders
 
$
1,203
 
$
(1,015)
 
$
(328)
 
$
(5,971)
 
Weighted average common shares
 
 
4,860
 
 
4,773
 
 
4,816
 
 
4,767
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted:
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares
 
 
4,860
 
 
4,773
 
 
4,816
 
 
4,767
 
Dilutive effect of stock options and warrants
 
 
45
 
 
-
 
 
-
 
 
-
 
Weighted average common and incremental shares
 
 
4,905
 
 
4,773
 
 
4,816
 
 
4,767
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings (Loss) Per Common Share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
0.25
 
$
(0.21)
 
$
(0.07)
 
$
(1.25)
 
Diluted
 
$
0.25
 
$
(0.21)
 
$
(0.07)
 
$
(1.25)
 
 
Since the Corporation is reporting a net loss available to common shareholders for the nine month 2013 period and the 2012 periods, no stock options or warrants were evaluated for dilutive purposes. Stock options for 238,000 shares of common stock were not included in the three month September 30, 2013 computation of diluted earnings per share because their impact was anti-dilutive. The common stock warrant for 215,983 shares was not included in the three month September 30, 2013 computation of diluted earnings per share because its impact was also anti-dilutive.