Income Per Share (Tables)

3 Months Ended

Mar. 31, 2016

Reconciliation of Basic and Diluted Income Per Share

The following schedule reconciles the numerators and denominators of the basic and diluted income per share (“IPS”) computations for the three month periods ended March 31, 2016, and March 31, 2015. Diluted common shares arise from the potentially dilutive effect of the Company’s stock options and warrants outstanding. For the three month periods ended March 31, 2016, and March 31, 2015, the Company has excluded all unearned shares held by the ESOP.


	March 31,
	2016		2015
Basic IPS:
Net income	$	509,000	$	1,355,000
Average common shares outstanding		6,297,755		6,732,456

Net income per share	$	0.08	$	0.20

Diluted IPS:
Net Income	$	509,000	$	1,355,000
Average common shares outstanding		6,297,755		6,732,456

Dilutive effect of stock options		—		—

Average diluted shares outstanding		6,297,755		6,732,456

Net income per share, diluted	$	0.08	$	0.20