Note 9 - Basic and Diluted Earnings Per Common Share

6 Months Ended

Jun. 30, 2019

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, 2019

and

2018:

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2019		2018		2018		2018
Net income (numerator)	$	1,010,000	$	959,000	$	2,228,000	$	1,467,000
Shares (denominator):
Basic weighted average common shares outstanding		13,184,321		14,086,277		13,287,583		14,151,734
Add: dilutive effect of common stock options		23,817		41,657		58,563		67,329
Diluted weighted average common shares outstanding		13,208,138		14,127,934		13,346,146		14,219,063
Earnings per common share:
Basic	$	0.08	$	0.07	$	0.17	$	0.10
Diluted	$	0.08	$	0.07	$	0.17	$	0.10