Income Per Common Share (Tables)

6 Months Ended

Jun. 30, 2019

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:

	2019		2018
Net income	$	1,840,847	$	1,726,357
Weighted average shares outstanding		5,517,236		5,492,896
Effect of dilutive shares		70,749		93,689
Weighted average shares outstanding - diluted		5,587,985		5,586,585
Earnings per share - basic	$	0.33	$	0.31
Earnings per share - diluted	$	0.33	$	0.31

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

	2019		2018
Net income	$	3,530,111	$	3,338,587
Weighted average shares outstanding		5,515,832		5,339,187
Effect of dilutive shares		70,981		94,173
Weighted average shares outstanding - diluted		5,586,813		5,433,360
Earnings per share - basic	$	0.64	$	0.63
Earnings per share - diluted	$	0.63	$	0.61