Note 4 - Earnings Per Common Share
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Text Block]
NOTE 4 – EARNINGS PER COMMON SHARE

Earnings per common share (“EPS”) are computed using the weighted average number of shares outstanding as prescribed in FASB ASC 260-10, Earnings per Share.  Net income is divided by the weighted average number of shares outstanding during the period to calculate basic net earnings per common share.  Diluted earnings per common share are calculated to give effect to dilutive stock options.

   
Three Months Ended
September 30,
   
Nine Months Ended
September 30,
 
   
2012
   
2011
   
2012
   
2011
 
                         
Net Income
  $ 647,000     $ 496,000     $ 1,782,000     $ 1,532,000  
                                 
Weighted Average Shares Issued
    6,345,732       6,345,732       6,345,732       6,345,732  
Weighted Average Unearned ESOP Shares
    (393,138 )     (418,772 )     (393,268 )     (418,786 )
Weighted Average Unearned RRP Shares
    (77,236 )     (122,220 )     (84,412 )     (129,035 )
Weighted Average Treasury Shares
    (3,320,706 )     (2,984,957 )     (3,200,107 )     (2,834,030 )
Weighted Average Shares Outstanding for Basic EPS
    2,554,652       2,819,783       2,667,945       2,963,881  
                                 
Earnings per Share, Basic
  $ 0.25     $ 0.18     $ 0.67     $ 0.52  
                                 
                                 
Weighted Average Shares Outstanding for Basic EPS
    2,554,652       2,819,783       2,667,945       2,963,881  
Effect of Dilutive Securities
    146,420       137,094       140,023       122,552  
Weighted Average Shares Outstanding for Diluted EPS
    2,701,072       2,956,877       2,807,968       3,086,433  
                                 
Earnings per Shares, Diluted
  $ 0.24     $ 0.17     $ 0.64     $ 0.50