Income Per Share (Tables)

6 Months Ended

Jun. 30, 2016

Reconciliation of Basic and Diluted Income (Loss) Per Share

The following schedule reconciles the numerators and denominators of the basic and diluted income (loss) per share (“IPS”) computations for the three and six month periods ended June 30, 2016, and June 30, 2015. Diluted common shares arise from the potentially dilutive effect of the Company’s stock options and warrants outstanding. For the three and six month periods ended June 30, 2016, and June 30, 2015, the Company has excluded all unearned shares held by the ESOP.


	For the three month period Ended June 30,
	2016		2015
Basic IPS:
Net income (loss)	$	304,000	($	117,000	)
Average common shares outstanding		6,232,457		6,425,687

Net income (loss) per share	$	0.05	($	0.02	)

Diluted IPS:
Net income (loss)	$	304,000	($	117,000	)
Average common shares outstanding		6,232,457		6,425,687

Dilutive effect of stock options		—		—
Average diluted shares outstanding		6,232,457		6,425,687

Net income (loss) per share, diluted	$	0.05	($	0.02	)


	For the six month period Ended June 30,
	2016		2015
Basic IPS:
Net income	$	813,000	$	1,238,000
Average common shares outstanding		6,265,106		6,588,845

Net income per share	$	0.13	$	0.19

Diluted IPS:
Net income	$	813,000	$	1,238,000
Average common shares outstanding		6,265,106		6,588,845

Dilutive effect of stock options		—		—
Average diluted shares outstanding		6,265,106		6,588,845

Net income per share, diluted	$	0.13	$	0.19