EARNINGS (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 8 –EARNINGS (LOSS) PER SHARE

Earnings (Loss) Per Share – Basic earnings (loss) per share have been calculated based upon the weighted-average number of common shares outstanding. For earning per share computations, unallocated ESOP shares are treated like treasury shares and not considered outstanding. The calculation of diluted weighted-average shares outstanding for the three months ended March 31, 2017 and 2016 exclude 36,892 and 34,190 shares issuable pursuant to outstanding stock options because their effect would be anti-dilutive, respectively.

	Three Months Ended
	March 31,
	2017		2016
Net (loss) income	$	(197,750)	$	5,856
Weighted-average shares outstanding:
Basic		3,256,303		3,402,828
Diluted		3,256,303		3,402,828
(loss) income per common share:
Basic	$	(0.06)	$	0.00
Diluted	$	(0.06)	$	0.00

Shares outstanding and basic and diluted income per common share in the above discussion and table for all periods prior to October 2016 have been restated at the second step-conversion exchange rate of 2.0473 to one.