Three Months Ended
September 30,

Nine Months Ended
September 30,

2016

2015

2016

2015

Earnings per common share – Basic

Net income

$

1,528,444

$

295,552

$

1,644,183

$

393,323

Weighted average number of common shares outstanding

9,096,852

8,935,951

9,030,764

8,926,176

Earnings per common share – Basic

$

0.17

$

0.03

$

0.18

$

0.04

Earnings per common share – Diluted

Net income

$

1,528,444

$

295,552

$

1,644,183

$

393,323

Weighted average number of common shares outstanding

9,096,852

8,935,951

9,030,764

8,926,176

Dilutive effect of employee stock options

50,732

77,889

52,511

90,411

Weighted average number of common shares outstanding - Diluted

9,147,584

9,013,840

9,083,275

9,016,587

Earnings per common share – Diluted

$

0.17

$

0.03

$

0.18

$

0.04