Income Per Common Share (Tables)

9 Months Ended

Sep. 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 September 30:

	2018		2017
Net income	$	1,778,153	$	1,440,653
Weighted average shares outstanding		5,506,649		5,475,504
Effect of dilutive shares		82,900		112,906
Weighted average shares outstanding - diluted		5,589,549		5,588,410
Earnings per share - basic	$	0.32	$	0.26
Earnings per share - diluted	$	0.32	$	0.26

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

	2018		2017
Net income	$	5,116,740	$	4,053,126
Weighted average shares outstanding		5,496,346		5,459,006
Effect of dilutive shares		83,643		109,793
Weighted average shares outstanding - diluted		5,579,989		5,568,799
Earnings per share - basic	$	0.93	$	0.74
Earnings per share - diluted	$	0.92	$	0.73