Earnings per Share

Basic net income per common share is calculated by dividing the income available to common stockholders by the weighted average common shares outstanding during each reporting period. Diluted net income per common share adjusts the weighted average number of common shares outstanding for the potential dilution that could occur if common stock equivalents (stock options and restricted stock units) were exercised or converted into common stock, calculated using the treasury stock method. We had no participating securities during the three and six months ended June 30, 2018 and 2017.

Common stock equivalents of 24,191 and 35,468 for the three months ended June 30, 2018 and 2017, respectively, and 45,032 and 35,447 for the six months ended June 30, 2018 and 2017, respectively, were excluded from the calculation of diluted net income per common share as the effect would have been anti-dilutive.



	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2018		2017		2018		2017
Numerator:
Net income available to common stockholders for basic and diluted net income per common share	$	292,352	$	202,109	$	581,793	$	409,182
Denominator:
Weighted average common shares outstanding for basic net income per common share	4,481,930		4,652,426		4,486,620		4,681,223
Weighted average impact of dilutive equity instruments	107,165		83,166		102,366		78,518
Weighted average shares for diluted net income per common share	4,589,095		4,735,592		4,588,986		4,759,741
Net income per common share:
Basic	$	0.07	$	0.04	$	0.13	$	0.09
Diluted	$	0.06	$	0.04	$	0.13	$	0.09