Note 5 - Earnings Per Share

9 Months Ended

Sep. 30, 2016

NOTE 5

– EARNINGS PER SHARE

Basic earnings per share is based on net income divided by the weighted average number of shares outstanding during the period, including allocated and committed-to-be-released Employee Stock Ownership Plan (“ESOP”) shares and vested Management Recognition Plan (“MRP”) shares. Diluted earnings per share show the dilutive effect, if any, of additional common shares issuable under stock options and awards.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Net income (loss) available to common stockholders	$	421,262		$	456,982		$	1,053,484		$	523,669
Basic potential common shares:
Weighted average shares outstanding		2,894,123			2,894,123			2,894,123			2,894,123
Weighted average unallocated ESOP shares		(17,374	)		(22,461	)		(18,638	)		(23,720	)
Weighted average unvested MRP shares		(1,047	)		(2,795	)		(1,047	)		(2,795	)
Basic weighted average shares outstanding		2,875,702			2,868,867			2,874,438			2,867,608
Dilutive potential common shares:
Weighted average unrecognized compensation on MRP shares		890			2,409			913			2,373
Weighted average RRP options outstanding		21,017			9,413			14,963			11,112
Dilutive weighted average shares outstanding		2,897,609			2,880,689			2,890,314			2,881,093
Basic earnings (loss) per share	$	0.15		$	0.16		$	0.37		$	0.18
Diluted earnings (loss) per share	$	0.15		$	0.16		$	0.36		$	0.18