Income Per Common Share

6 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Income Per Common Share

Note 5: Income Per Common Share

Basic income per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares and potential common shares outstanding. Potential common shares consist of dilutive stock options determined using the treasury stock method and the average market price of common stock.

The following tables are a summary of the reconciliation of average shares outstanding:

	Three Months Ended June 30
	2017		2016
Net income	$	1,386,385	$	1,312,110
Weighted average shares outstanding - basic		4,967,907		4,929,722
Effect of dilutive shares		105,001		126,801
Weighted average shares outstanding - diluted		5,072,908		5,056,523
Earnings per share - basic	$	0.28	$	0.27
Earnings per share - diluted	$	0.27	$	0.26

	Six Months Ended June 30
	2017		2016
Net income	$	2,612,473	$	2,507,846
Weighted average shares outstanding - basic		4,965,094		4,923,266
Effect of dilutive shares		103,930		124,335
Weighted average shares outstanding - diluted		5,069,024		5,047,601
Earnings per share - basic	$	0.53	$	0.51
Earnings per share - diluted	$	0.52	$	0.50