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EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 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 nine months ended September 30, 2014 and 2013: 

 
 
2014
 
2013
Basic Earnings per Share
 
 
 
 
Numerator:
 
 
 
 
Net income available to common shareholders
 
$
5,933,877

 
$
5,304,660

Denominator:
 
 

 
 

Weighted-average shares outstanding
 
23,077,914

 
17,402,501

Basic earnings per share
 
$
0.26

 
$
0.30

 
 
 
 
 
Diluted Earnings per Share
 
 

 
 

Numerator:
 
 

 
 

Net income available to common shareholders
 
$
5,933,877

 
$
5,304,660

Denominator:
 
 

 
 

Weighted-average shares outstanding
 
23,077,914

 
17,402,501

Effect of dilutive securities
 
 

 
 

Stock options and warrants
 
1,116,993

 
1,039,925

Preferred stock
 
630,419

 
1,323,837

Diluted weighted-average shares outstanding
 
24,825,326

 
19,766,263

Diluted earnings per share
 
$
0.24

 
$
0.27