5. PER SHARE INFORMATION

6 Months Ended

Jun. 30, 2014

Table Text Block [Abstract]

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 and six months ended June 30, 2014 and 2013 is as follows:

	(Unaudited)				(Unaudited)
	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2014		2013		2014		2013
Weighted average shares outstanding		7,543,173		7,516,448		7,541,462		7,516,306
Dilutive stock options		-		-		-		-
Dilutive weighted average shares outstanding		7,543,173		7,516,448		7,541,462		7,516,306
Anti-dilutive stock options/weighted average shares outstanding		-		9,000		-		9,160