Note 5 - Earnings Per Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

5. EARNINGS PER SHARE

The following sets forth the computation of basic and diluted earnings per share:

	Three months ended September 30,				Nine months ended September 30,
	2015		2014		2015		2014
Numerator for basic and diluted earnings per share - net income	$	2,220	$	2,044	$	6,290	$	6,512
Denominator for basic earnings per share - weighted average shares outstanding		3,343,011		3,298,057		3,332,650		3,286,438
Effect of dilutive securities - employee stock options		13,778		11,408		12,980		9,766
Denominator for diluted earnings per share - adjusted weighted average shares outstanding		3,356,789		3,309,465		3,345,630		3,296,204
Earnings per share - basic	$	0.66	$	0.62	$	1.89	$	1.98
Earnings per share - diluted	$	0.66	$	0.62		1.88	$	1.98

There were 21,000 stock options that were anti-dilutive for both the three and nine-month periods ended September 30, 2015. There were 31,450 stock options that were anti-dilutive for both the three and nine-month periods ended September 30, 2014. These stock options were not included in the above calculation.