Note 6 - Income Per Common Share

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 6: Income Per Common Share

	For three months ended June 30, 2016						For six months ended June 30, 2016
	Income Available to Common Shareholders		Average Common Shares Outstanding		Per Common Share		Income Available to Common Shareholders		Average Common Shares Outstanding		Per Common Share
Basic Income Per Common Share	$	1,256,152		4,366,507	$	0.29	$	2,532,757		4,363,375	$	0.58
Effect of Dilutive Securities				53,977						52,028
Diluted Income Per Common Share	$	1,256,152		4,420,484	$	0.28	$	2,532,757		4,415,403	$	0.57

	For three months ended June 30, 2015						For six months ended June 30, 2015
	Income Available to Common Shareholders		Average Common Shares Outstanding		Per Common Share		Income Available to Common Shareholders		Average Common Shares Outstanding		Per Common Share
Basic Income Per Common Share	$	1,537,949		4,334,288	$	0.35	$	2,867,492		4,324,811	$	0.66
Effect of Dilutive Securities				54,038						56,405
Diluted Income Per Common Share	$	1,537,949		4,388,326	$	0.35	$	2,867,492		4,381,216	$	0.65

Stock options to purchase 83,500 shares of common stock were outstanding during the three and six months ended June 30, 2016 and stock options to purchase 108,500 shares of common stock were outstanding during the three and six months ended June 30, 2015 but were not included in the computation of diluted income per common share because their exercise price was greater than the average market price of the common shares.