Earnings Per Share

3 Months Ended

Mar. 31, 2018

(2) EARNINGS PER SHARE

Basic earnings per share (EPS) is computed by dividing net income by the weighted average number of common stock shares outstanding. Diluted EPS is computed by dividing net income by the weighted average number of common stock shares outstanding, adjusted for the effect of potentially dilutive stock awards outstanding during the period. For the three month periods ended March 31, 2018 and March 31, 2017, the Company has excluded all unearned shares held by the ESOP.


	For the three month Periods Ended March 31,
	2018		2017
Basic EPS:
Net income	$	1,126,000	$	935,000
Average common shares outstanding		6,188,413		6,218,706

Earnings per share	$	0.18	$	0.15

Diluted EPS
Net income	$	1,126,000	$	935,000
Average common shares outstanding		6,188,413		6,218,706
Dilutive effect of stock options		—		—

Average diluted shares outstanding		6,188,413		6,218,706

Earnings per share, diluted	$	0.18	$	0.15