Note 6 - Income Per Common Share

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 6: Income Per Common Share

	For three months ended September 30, 2016						For nine months ended September 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	$	1,541,907		4,370,700	$	0.35	$	4,074,664		4,365,835	$	0.93
Effect of Dilutive Securities				56,853						53,553
Diluted Income Per Common Share	$	1,541,907		4,427,553	$	0.35	$	4,074,664		4,419,388	$	0.92

	For three months ended September 30, 2015						For nine months ended September 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	$	1,418,635		4,338,803	$	0.33	$	4,286,128		4,329,526	$	0.99
Effect of Dilutive Securities				55,216						56,340
Diluted Income Per Common Share	$	1,418,635		4,394,019	$	0.32	$	4,286,128		4,385,866	$	0.98

Stock options to purchase 73,500 shares of common stock were outstanding during the three and nine months ended September 30, 2016 and stock options to purchase 98,500 shares of common stock were outstanding during the three and nine months ended September 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.