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Note 22 - Earnings Per Share
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Earnings Per Share [Text Block]
NOTE
2
2
–EARNINGS PER SHARE          
 
The
two
-class method is used in the calculation of basic and diluted earnings per share. Under the
two
-class method, earnings available to common shareholders for the period are allocated between common shareholders and participating securities according to dividends declared (or accumulated) and participation rights in undistributed earnings. The factors used in the earnings per share computation follow:
 
   
Year Ended December 31,
  
   
2019
    
2018
  
                 
Basic:
                
Net income from continuing operations
  
$
1,966,107
    $
1,875,255
  
Net loss from discontinued operations
  
 
(1,255,928
)
    
(801,741
 )
Less: Earnings allocated to participating securities
  
 
(11,456
)
    
(24,642
 )
                 
Net income allocated to common shareholders
  
$
698,723
    $
1,048,872
  
                 
Weighted-average common shares outstanding including participating securities
  
 
3,298,548
     
3,410,670
  
Less: Average participating securities
  
 
(48,982
)
    
(70,988
 )
Less: Average unallocated ESOP Shares
  
 
(164,096
)
    
(176,102
 )
                 
Average shares
  
 
3,085,470
     
3,163,581
  
                 
Basic earnings per common share - continuing operations
  
$
0.64
    $
0.59
  
Basic loss per common share - discontinued operations
  
 
(0.41
)
    
(0.26
 )
Basic earnings per common share
  
$
0.23
    $
0.33
  
Diluted:
                
Net income allocated to common shareholders
  
$
698,723
    $
1,048,872
  
                 
Weighted-average common shares outstanding for basic earnings per common share
  
 
3,085,470
     
3,163,581
  
Add: Dilutive effects of assumed exercises of stock options
  
 
2,766
     
8,076
  
                 
Weighted average shares and dilutive potential common shares
  
 
3,088,236
     
3,171,655
  
                 
Diluted earnings per common share - continuing operations
  
$
0.64
    $
0.59
  
Diluted loss per common share - discontinued operations
  
 
(0.41
)
    
(0.26
 )
Diluted earnings per common share
  
$
0.23
    $
0.33
  
 
 
Participating securities are restricted stock awards since they participate in common stock dividends. Stock options for
4,000
shares of common stock were
not
considered in computing diluted earnings per common share for
2019
and
2018,
because they were antidilutive.