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Note 2 - Earnings Per Share
 12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Earnings Per Share [Text Block]
2.
EARNINGS PER SHARE
 
There are
no
convertible securities that would affect the numerator in calculating basic and diluted earnings per share; therefore, net income as presented on the Consolidated Statement of Income will be used as the numerator. The following table sets forth the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings
per share computation for the year ended
December 31:
 
   
2017
    
2016
    
2015
  
Weighted-average common shares outstanding
    
3,415,115
      
2,494,022
      
2,251,365
  
                         
Average treasury stock shares
    
(386,165
 )    
(386,165
 )    
(236,399
 )
                         
Weighted-average common shares and common stock equivalents used to calculate basic earnings per share
    
3,028,950
      
2,107,857
      
2,014,966
  
                         
Additional common stock equivalents (stock options) used to calculate diluted earnings per share
    
23,635
      
11,357
      
9,154
  
                         
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share
    
3,052,585
      
2,119,214
      
2,024,120
  
 
Options to purchase
19,750
shares of common stock at prices ranging from
$17.55
to
$23.00
were outstanding during the year ended
December 31, 2017.
Also outstanding were
14,601
shares of restricted stock units.
None
of the outstanding options or RSU’s were anti-dilutive.
 
Options to purchase
29,324
shares of common stock at prices ranging from
$17.55
to $
37.48
were outstanding during the year ended
December 31, 2016.
Of those options,
29,324
were considered dilutive based on the average market price exceeding the strike price for the year ended
December 31, 2016,
and
no
options were anti-dilutive.
 
Options to purchase
31,949
shares of common stock at prices ranging from
$17.55
to
$40.24
were outstanding during the year ended
December 31, 2015.
Of those options,
27,250
were considered dilutive based on the average market price exceeding the strike price for the year ended
December 31, 2015,
and
4,699
options were anti-dilutive.