EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2016

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 employee stock ownership (ESOP) shares.

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Net income available to common shareholders	$	757,765	$	699,398	$	2,350,650	$	2,322,058
Basic average shares outstanding		1,778,742		1,765,873		1,775,142		1,771,810
Diluted potential common shares:
Stock option equivalents		19,741		16,960		17,103		14,760
Diluted average shares outstanding		1,798,483		1,782,833		1,792,245		1,786,570
Basic earnings per share	$	0.43	$	0.40	$	1.32	$	1.31
Diluted earnings per share	$	0.42	$	0.39	$	1.31	$	1.30