| Schedule of net earnings per share available to common shareholders |
|
|
|
For the three months ended March |
|
|
|
|
2014 |
|
2013 |
|
|
|
|
Basic |
|
Diluted |
|
Basic |
|
Diluted |
|
|
Weighted average common shares outstanding |
|
611,432 |
|
611,432 |
|
623,115 |
|
623,115 |
|
|
Weighted average of net additional shares outstanding assuming dilutive options exercised and proceeds used to purchase treasury stock and conversion of preferred stock (1) |
|
— |
|
126,029 |
|
— |
|
120,080 |
|
|
Weighted average number of shares outstanding |
|
611,432 |
|
737,461 |
|
623,115 |
|
743,195 |
|
|
Net income |
|
$ |
531,285 |
|
$ |
531,285 |
|
$ |
1,213,894 |
|
$ |
1,213,894 |
|
|
Deduct: convertible preferred stock dividends (2) |
|
(48,108 |
) |
— |
|
(48,108 |
) |
— |
|
|
Net income available to common shareholders |
|
$ |
483,177 |
|
$ |
531,285 |
|
$ |
1,165,786 |
|
$ |
1,213,894 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings per share available to common shareholders |
|
$ |
0.79 |
|
$ |
0.72 |
|
$ |
1.87 |
|
$ |
1.63 |
|
(1) Diluted earnings per share calculation includes all stock options, convertible preferred stock, and restricted stock deemed to be dilutive.
(2) Diluted earnings per share calculation excludes dividends for convertible preferred stock deemed to be dilutive, as those amounts are assumed to have been converted to common stock of the Company.
|
|
|
For the six months ended March |
|
|
|
|
2014 |
|
2013 |
|
|
|
|
Basic |
|
Diluted |
|
Basic |
|
Diluted |
|
|
Weighted average common shares outstanding |
|
616,888 |
|
616,888 |
|
622,692 |
|
622,692 |
|
|
Weighted average of net additional shares outstanding assuming dilutive options exercised and proceeds used to purchase treasury stock and conversion of preferred stock (1) |
|
— |
|
122,335 |
|
— |
|
132,189 |
|
|
Weighted average number of shares outstanding |
|
616,888 |
|
739,223 |
|
622,692 |
|
754,881 |
|
|
Net income |
|
$ |
1,819,281 |
|
$ |
1,819,281 |
|
$ |
2,676,646 |
|
$ |
2,676,646 |
|
|
Deduct: convertible preferred stock dividends (2) |
|
(97,285 |
) |
— |
|
(107,399 |
) |
— |
|
|
Net income available to common shareholders |
|
$ |
1,721,996 |
|
$ |
1,819,281 |
|
$ |
2,569,247 |
|
$ |
2,676,646 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings per share available to common shareholders |
|
$ |
2.79 |
|
$ |
2.46 |
|
$ |
4.13 |
|
$ |
3.55 |
|
(1) Diluted earnings per share calculation includes all stock options, convertible preferred stock, and restricted stock units deemed to be dilutive.
(2) Diluted earnings per share calculation excludes dividends for convertible preferred stock deemed to be dilutive, as those amounts are assumed to have been converted to common stock of the Company. |