Note 9 - Basic and Diluted Earnings Per Common Share

6 Months Ended

Jun. 30, 2018

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

six

months ended

June 30, 2018

and

2017.

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Net income (numerator)	$	959,000	$	804,000	$	1,467,000	$	1,354,000
Shares (denominator):
Basic weighted average common shares outstanding		14,086,277		14,953,217		14,151,734		15,079,733
Add: dilutive effect of common stock options		41,657		52,872		67,329		71,299
Diluted weighted average common shares outstanding		14,127,934		15,006,089		14,219,063		15,151,032
Earnings per common share:
Basic	$	0.07	$	0.05	$	0.10	$	0.09
Diluted	$	0.07	$	0.05	$	0.10	$	0.09