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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2019
EARNINGS PER SHARE  
Earnings Per Common Share

NOTE 3 – EARNINGS PER SHARE

Basic earnings per common share (“EPS”) is computed by dividing net income available to common shareholders by the weighted average common shares outstanding during the period.  Diluted EPS is computed by dividing net income available to common shareholders by the weighted average common shares outstanding, plus the effect of common stock equivalents (for example, stock options computed using the treasury stock method).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30, 

 

June 30, 

 

 

    

2019

    

2018

    

2019

    

2018

    

Basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

319,275

 

$

477,685

 

$

454,300

 

$

733,154

 

Weighted average common shares outstanding

 

 

2,819,994

 

 

2,806,599

 

 

2,818,266

 

 

2,804,565

 

Basic and dilutive net income per share

 

$

0.11

 

$

0.17

 

$

0.16

 

$

0.26

 

 

Diluted earnings per share calculations were not required for the three- and six-month periods ended June 30, 2019 and 2018, as there were no stock options outstanding.