Note 3 - Earnings Per Common Share -

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

3

–

Earnings per Common Share

–

Basic earnings per share (EPS) represents

income available to common shareholders divided by the weighted average number of common shares outstanding;

no

dilution for any potentially convertible shares is included in the calculation. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. The potential common shares that

may

be issued by the Company relate to outstanding stock warrants and stock options.

	Years Ended December 31,
	2017		2016		2015
	(Dollars in thousands, except per share data)
Numerator:
Net Income Available to Common Shares	$	4,848	$	5,111	$	4,096
Denominator:
Weighted Average Common Shares Outstanding		7,658,137		7,033,476		6,694,075
Dilutive Effect of Stock Options and Warrants		345,822		281,607		288,981
Weighted Average Dilutive Common Shares		8,003,959		7,315,083		6,983,056
Basic Earnings Per Common Share From Net Income Available to Common Shares	$	0.63	$	0.73	$	0.61
Diluted Earnings Per Common Share From Net Income Available to Common Shares	$	0.61	$	0.70	$	0.59