Earnings per share

3 Months Ended

Mar. 31, 2018

The following is a summary of the basic and diluted earnings per share for the three month periods ended March 31, 2018 and March 31, 2017.



	Three Months Ended March 31,
	2018		2017
Net income available to common shareholders	$	3,414,771	$	1,448,851
Weighted average common shares outstanding	11,210,836		7,524,830
Effect of dilutive stock options	113,216		106,389
Diluted shares	11,324,052		7,631,219
Basic earnings per common share	$	0.30	$	0.19
Diluted earnings per common share	$	0.30	$	0.19

For the three months ended March 31, 2018 and 2017, 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 no and 13,166 antidilutive stock options as of March 31, 2018 and 2017, respectively.