EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

EARNINGS PER SHARE

3. EARNINGS PER SHARE

Earnings Per Share - Basic earnings per share is determined by dividing net income for the period by the weighted average number of common shares. Diluted earnings per share considers the potential effects of the exercise of the outstanding stock options under the Company’s stock option plans. Average shares outstanding exclude unallocated ESOP shares.

The following reflects earnings per share calculations for basic and diluted methods:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Net income available to common shareholders	$	699,398	$	856,016	$	2,322,058	$	2,320,782
Basic average shares outstanding		1,765,873		1,795,252		1,771,810		1,795,007
Diluted potential common shares:
Stock option equivalents		16,960		14,126		14,760		9,136
Diluted average shares outstanding		1,782,833		1,809,378		1,786,570		1,804,143
Basic earnings per share	$	0.40	$	0.48	$	1.31	$	1.29
Diluted earnings per share	$	0.39	$	0.47	$	1.30	$	1.29