EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Schedule of reconciliation of basic and diluted earnings per share

The following is a reconciliation of the numerator and denominator for basic and diluted earnings per share for the three months ended March 31, 2014 and 2013: 

	2014		2013
Basic Earnings per Share
Numerator:
Net income available to common shareholders	$	862,165	$	1,083,595
Denominator:
Weighted-average shares outstanding	21,232,949		17,079,242
Basic earnings per share	$	0.04	$	0.06
Diluted Earnings per Share
Numerator:
Net income available to common shareholders	$	862,165	$	1,083,595
Denominator:
Weighted-average shares outstanding	21,232,949		17,079,242
Effect of dilutive securities
Stock options and warrants	1,225,727		1,631,017
Preferred stock	1,279,342		1,428,923
Diluted weighted-average shares outstanding	23,738,018		20,139,182
Diluted earnings per share	$	0.04	$	0.05