Income Per Common Share (Tables)

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Schedule of reconciliation of average shares outstanding

The following table is a summary of the reconciliation of average shares outstanding for the three months ended June 30:

	2018		2017
Net income	$	1,726,357	$	1,386,385
Weighted average shares outstanding		5,492,896		5,464,697
Effect of dilutive shares		93,689		123,990
Weighted average shares outstanding - diluted		5,586,585		5,588,687
Earnings per share - basic	$	0.31	$	0.25
Earnings per share - diluted	$	0.31	$	0.25

 The following table is a summary of the reconciliation of average shares outstanding for the six months ended June 30:

	2018		2017
Net income	$	3,338,587	$	2,612,473
Weighted average shares outstanding		5,339,187		5,461,603
Effect of dilutive shares		94,173		122,770
Weighted average shares outstanding - diluted		5,433,360		5,584,373
Earnings per share - basic	$	0.63	$	0.48
Earnings per share - diluted	$	0.61	$	0.47