5. PER SHARE INFORMATION

3 Months Ended

Mar. 31, 2013

Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Table Text Block]

5. PER SHARE INFORMATION

Basic earnings per share (“EPS”) is computed by dividing net income applicable to common shareholders by the weighted average number of common shares outstanding during each period. The diluted earnings per share computation includes common share equivalents, when dilutive. There are no adjustments to net income necessary in the calculation of basic and diluted earnings per share.

A reconciliation of the shares used in the basic and diluted income per common share computation for the three months ended March 31, 2013 and 2012 is as follows:

	(Unaudited)
	Three Months Ended
	March 31,
	2013		2012
Weighted average shares outstanding		7,516,162		7,503,270
Dilutive stock options		-		-
Dilutive weighted average shares outstanding		7,516,162		7,503,270
Anti-dilutive stock options/weighted average shares outstanding		9,322		13,626