Earnings per share

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Earnings per share

Earnings per share

The following is a summary of the basic and diluted earnings per share for the three month periods ended March 31, 2017 and March 31, 2016.

	Three Months Ended March 31,
	2017		2016
Net income available to common shareholders	$	1,448,851	$	1,136,863
Weighted average common shares outstanding	7,524,830		5,807,488
Effect of dilutive stock options	106,389		300,599
Diluted shares	7,631,219		6,108,087
Basic earnings per common share	$	0.19	$	0.20
Diluted earnings per common share	$	0.19	$	0.19

Note 2. Earnings per share, Continued

For the three months ended March 31, 2017 and 2016, the effects of outstanding antidilutive stock options are excluded from the computation of diluted earnings per common share because the exercise price of such options is higher than the market price. There were 14,604 and 18,100 antidilutive stock options as of March 31, 2017 and 2016, respectively.