Earnings per share

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 3. Earnings per share

The following is a summary of the basic and diluted earnings per share for the three month periods ended March 31, 2016 and March 31, 2015.

	Three Months Ended March 31,
	2016		2015
Net income available to common shareholders	$	1,136,863	$	308,392
Weighted average common shares outstanding		5,807,488		2,965,783
Effect of dilutive stock options		300,599		327,393
Diluted shares		6,108,087		3,293,176
Basic earnings per common share	$	0.20	$	0.10
Diluted earnings per common share	$	0.19	$	0.09

For the three months ended March 31, 2016 and 2015, 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 are 18,100 and 0 antidilutive stock options as of March 31, 2016 and 2015, respectively.