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Earnings per share
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Earnings per share
Earnings per share
 
The following is a summary of the basic and diluted earnings per share for the three and nine month periods ended September 30, 2016 and September 30, 2015.
 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2016
 
2015
 
2016
 
2015
Net income (loss) available to common shareholders
 
$
1,340,892

 
$
(106,909
)
 
$
3,399,385

 
$
237,585

Weighted average common shares outstanding
 
5,834,520

 
3,936,638

 
5,820,834

 
3,391,274

Effect of dilutive stock options
 
261,813

 
307,215

 
271,201

 
307,548

Diluted shares
 
6,096,333

 
4,243,853

 
6,092,035

 
3,698,822

Basic earnings per common share
 
$
0.23

 
$
(0.03
)
 
$
0.58

 
$
0.07

Diluted earnings per common share
 
$
0.22

 
$
(0.03
)
 
$
0.56

 
$
0.06


 
For the three and nine months ended September 30, 2016 and 2015, the effects of outstanding antidilutive stock options are excluded from the computation of diluted earnings per common share because the exercise price of such options is higher than the market price. There were 18,100 and 22,309 antidilutive stock options as of September 30, 2016 and 2015, respectively.