Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The factors used in the earnings per share computation follow:

	Three Months Ended
	September 30,
	2018			2017
Basic
Net income	$	3,481,463		$	2,727,817
Undistributed earnings allocated to participating securities		(106,918	)		(98,721	)
Net income allocated to common shares		3,374,545			2,629,096
Weighted average common shares outstanding		15,714,226			13,132,237
Basic earnings per common share	$	0.22		$	0.20
Diluted
Net income allocated to common shares	$	3,374,545		$	2,629,096
Weighted average common shares outstanding for basic earnings per common share		15,714,226			13,132,237
Add: Dilutive effects of assumed exercises of stock options		520,700			427,903
Average shares and dilutive potential common shares		16,234,926			13,560,140
Diluted earnings per common share	$	0.21		$	0.19

	Nine Months Ended
	September 30,
	2018			2017
Basic
Net income	$	10,488,765		$	7,336,572
Undistributed earnings allocated to participating securities		(320,191	)		(306,484	)
Net income allocated to common shares		10,168,574			7,030,088
Weighted average common shares outstanding		14,870,232			13,023,145
Basic earnings per common share	$	0.68		$	0.54
Diluted
Net income allocated to common shares	$	10,168,574		$	7,030,088
Weighted average common shares outstanding for basic earnings per common share		14,870,232			13,023,145
Add: Dilutive effects of assumed exercises of stock options		506,750			409,601
Average shares and dilutive potential common shares		15,376,982			13,432,746
Diluted earnings per common share	$	0.66		$	0.52