Note 7 - Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

7:

Earnings (Loss) Per Share

Basic

earnings (loss) per share is calculated by dividing net income (loss) applicable to common stock by the weighted-average number of shares of common stock outstanding during the period. Unallocated common shares held by the Company’s Employee Stock Ownership Plan (the “ESOP”) are shown as a reduction in stockholders’ equity and are excluded from weighted-average common shares outstanding for basic and diluted earnings (loss) per share calculations until they are committed to be released.

Earnings per share for the

three

and

six

months ended

June 30, 2017

was

$0.77

and

$0.74,

respectively, calculated using

596,542

and

596,417

average shares issued, less

50,155

unallocated average shares held by the ESOP for each respective period. The Company had

no

dilutive effect or potentially dilutive securities at

June 30, 2017

as all options and restricted shares outstanding were granted on

June 30, 2017. 

The Company had

no

dilutive or potentially dilutive securities at

June 30, 2016.

Loss per share for the

three

and

six

months ended

June 30, 2016

was

$0.02

and

$0.42,

respectively, calculated using

640,872

average shares issued, less

52,353

unallocated average shares held by the ESOP for each respective period.