Earnings Per Share

3 Months Ended

Sep. 30, 2011

Earnings Per Share

Earnings Per Share [Text Block]

Note 9:  Earnings Per Share

Basic and diluted net income per common share available to common stockholders are based upon the weighted-average shares outstanding.  The following table summarizes basic and diluted net income per common share available to common stockholders for the three-month period ended September 30, 2011 and 2010.

	Three months ended
	September 30,
	2011	2010
Net income	$2,850,392	$1,302,592
Charge for early redemption of preferred stock issued at discount	94,365	-
Dividend payable on preferred stock	136,033	127,818
Net income available to common shareholders	$2,619,994	$1,174,774
Average Common shares – outstanding basic	2,095,923	2,084,112
Stock options under treasury stock method	70,999	27,100
Average Common shares – outstanding diluted	2,166,922	2,111,212
Basic earnings per common share	$1.25	$0.56
Diluted earnings per common share	$1.21	$0.56

At September 30, 2011 and 2010, no options outstanding had an exercise price exceeding the market price.