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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
NOTE 7 – EARNINGS PER SHARE
 
Earnings Per Share – Basic earnings 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 and six months ended June 30, 2017 and 2016 exclude 34,188 and 36,892 shares issuable pursuant to outstanding stock options because their effect would be anti-dilutive, respectively.
 
 
 
Three Months Ended
 
Six Months Ended
 
 
 
June 30,
 
June 30,
 
 
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
338,098
 
$
485,650
 
$
140,348
 
$
491,506
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average shares outstanding:
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
 
3,256,303
 
 
3,402,828
 
 
3,256,303
 
 
3,402,828
 
Diluted
 
 
3,265,521
 
 
3,406,468
 
 
3,265,032
 
 
3,403,904
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
0.10
 
$
0.14
 
$
0.04
 
$
0.14
 
Diluted
 
$
0.10
 
$
0.14
 
$
0.04
 
$
0.14
 
 
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.