XML 22 R10.htm IDEA: XBRL DOCUMENT v3.7.0.1
Earnings per share
 6 Months Ended
Jun. 30, 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 and six month periods ended June 30, 2017 and June 30, 2016.
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Net income available to common shareholders
$
1,648,286

 
$
921,630

 
$
3,097,138

 
$
2,058,493

Weighted average common shares outstanding
8,216,567

 
5,820,342

 
7,872,609

 
5,813,915

Effect of dilutive stock options
108,971

 
311,478

 
104,673

 
304,615

Diluted shares
8,325,538

 
6,131,820

 
7,977,282

 
6,118,530

Basic earnings per common share
$
0.20

 
$
0.16

 
$
0.39

 
$
0.35

Diluted earnings per common share
$
0.20

 
$
0.15

 
$
0.39

 
$
0.34



 
For the three and six months ended June 30, 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 13,916 and 18,100 antidilutive stock options as of June 30, 2017 and 2016, respectively.