XML 56 R16.htm IDEA: XBRL DOCUMENT v3.20.1
Note 9 - Earnings Per Share
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]
NOTE
9
– 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 earnings per share computations follow:
 
   
Three Months Ended March 31,
  
   
2020
    
2019
  
                 
Basic:
                
Net income from continuing operations
  
$
278,057
    $
387,143
  
Net loss from discontinued operations
  
 
-
     
(345,935
 )
Less: Earnings allocated to participating securities
  
 
(3,654
)
    
(643
 )
                 
Net income allocated to common shareholders
  
$
274,403
     $
40,565
  
                 
Weighted-average common shares outstanding including participating securities
  
 
3,208,618
     
3,360,612
  
Less: Average participating securities
  
 
(40,012
)
    
(49,798
 )
Less: Average unallocated ESOP Shares
  
 
(164,096
)
    
(170,316
 )
                 
Average shares
  
 
3,004,510
     
3,140,498
  
                 
Basic earnings per common share - continuing operations
  
$
0.09
     $
0.12
  
Basic loss per common share - discontinued operations
  
 
-
     
(0.11
 )
Basic earnings per common share
  
$
0.09
     $
0.01
  
Diluted:
                
Net income allocated to common shareholders
  
$
497,432
    $
40,565
  
                 
Weighted-average common shares outstanding for basic earnings per common share
  
 
3,004,510
     
3,140,498
  
Add: Dilutive effects of assumed exercises of stock options
  
 
-
     
4,712
  
                 
Weighted average shares and dilutive potential common shares
  
 
3,004,510
     
3,145,210
  
                 
Diluted earnings per common share - continuing operations
  
$
0.09
     $
0.12
  
Diluted loss per common share - discontinued operations
  
 
-
     
(0.11
 )
Diluted earnings per common share
  
$
0.09
     $
0.01
  
 
(
1
) Our participating securities are restricted stock awards which participate in common stock dividends.