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Earnings per share
 9 Months Ended
Sep. 30, 2018
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 months ended September 30, 2018 and 2017.

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Net income available to common shareholders
$
4,323,960

 
$
1,684,869

 
$
11,670,286

 
$
4,782,007

Weighted average common shares outstanding
12,718,861

 
8,234,783

 
12,049,151

 
7,994,661

Effect of dilutive stock options
98,695

 
85,991

 
94,687

 
79,185

Diluted shares
12,817,556

 
8,320,774

 
12,143,838

 
8,073,846

Basic earnings per common share
$
0.34

 
$
0.20

 
$
0.97

 
$
0.60

Diluted earnings per common share
$
0.34

 
$
0.20

 
$
0.96

 
$
0.59



For the three and nine months ended September 30, 2018 and 2017, 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 no antidilutive stock options for the three and nine months ended September 30, 2018. There were 13,166 antidilutive stock options for the three and nine months ended September 30, 2017..