EARNINGS (LOSS) PER SHARE (Tables)

6 Months Ended

Jun. 30, 2012

Earnings per common share

Reconciliation of the numerator and denominator for basic and diluted earnings per share

	2012		2011
Basic Earnings per Share
Numerator:
Income available to common shareholders	$	1,415,248	$	2,606,836
Denominator:
Weighted-average shares outstanding		9,781,851		8,487,392
Basic earnings per share	$	0.14	$	0.31

Diluted Earnings per Share
Numerator:
Income	$	1,415,248	$	2,606,836
Denominator:
Weighted-average shares outstanding		9,781,851		8,487,392
Effect of dilutive securities
Stock options and warrants		1,211,779		822,346
Preferred stock		3,211,328		4,580,161
Diluted weighted-average shares outstanding		14,204,958		13,889,899
Diluted earnings per share	$	0.10	$	0.19