Note 9 - Basic and Diluted Earnings Per Common Share

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

9 . Basic and Diluted Earnings Per Common Share

The following table provides a reconciliation of both net income and the number of shares used in the computation of “basic” earnings per

common share (“EPS”), which utilizes the weighted average number of common shares outstanding without regard to dilutive shares, and “diluted” EPS, which includes all such dilutive shares, for the

three

and

nine

months ended

September 30, 2017

and

2016.

	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Net income (numerator)	$	1,103,000	$	1,019,000	$	2,457,000	$	2,323,000
Shares (denominator):
Basic weighted average common shares outstanding		14,732,173		16,695,059		14,962,606		17,190,073
Add: dilutive effect of common stock options		201,253		11,473		113,334		-
Diluted weighted average common shares outstanding		14,933,426		16,706,532		15,075,940		17,190,073
Earnings per common share:
Basic	$	0.07	$	0.06	$	0.16	$	0.14
Diluted	$	0.07	$	0.06	$	0.16	$	0.14