Note 7 - Earnings Per Share

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

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. Diluted earnings per share have been calculated using the weighted average number of shares outstanding plus common stock equivalents computed under the treasury stock method. For earning per share computations, unallocated ESOP shares are treated like treasury shares and

not

considered outstanding.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Net income	$	811,728	$	583,629	$	952,077	$	1,075,138
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	$	0.25	$	0.17	$	0.29	$	0.32
Diluted	$	0.25	$	0.17	$	0.29	$	0.32

Shares outstanding and basic and diluted income per common share in the above table for all periods prior to

October 2016

have been restated at the

second

step-conversion exchange rate of

2.0473

to one.