5. PER SHARE INFORMATION

3 Months Ended

Mar. 31, 2015

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 months ended March 31, 2015 and 2014 is as follows:

	(Unaudited)
	Three Months Ended
	March 31,
	2015		2014
Weighted average
shares outstanding		7,559,343		7,539,733
Dilutive restricted share units		6,596		673
Dilutive stock options		759		-
Dilutive weighted average
shares outstanding		7,566,698		7,540,406

Weighted average shares that were antidilutive and therefore not included in the calculation of earnings per share were 86,827 and 44,815 for the three months ended March 31, 2015 and 2014, respectively.