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Note 4 - Earnings Per Share | 3 Months Ended
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Mar. 31, 2018
Notes to Financial Statements |
Earnings Per Share [Text Block] | NOTE 4 - EARNINGS PER SHARE The Company provides dual presentation of basic and diluted earnings per share. Basic earnings per share is calculated by dividing net income by the average shares outstanding. Diluted earnings per share adds the dilutive effects of stock options to average shares outstanding. 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 Three |
|  | Months Ended |
|  | March 31, |
|  | 2018 |  |  | 2017 |
Weighted-average common shares outstanding |  |  | 3,606,427 |  |  |  | 3,065,981 |
Average treasury stock shares |  |  | (386,165 | ) |  |  | (386,165 | )
Weighted-average common shares and common stock equivalents used to calculate basic earnings per share |  |  | 3,220,262 |  |  |  | 2,679,816 |
Additional common stock equivalents (stock options and restricted stock) used to calculate diluted earnings per share |  |  | 17,807 |  |  |  | 12,199 |
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share |  |  | 3,238,069 |  |  |  | 2,692,015 |
Options to purchase 18,250 shares of common stock, at prices ranging from $17.55 to $23.00, were outstanding during the three months ended March 31, 2018. Also outstanding were 14,601 shares of restricted stock. None of the outstanding options or restricted stock were anti-dilutive. Options to purchase 27,762 shares of common stock, at prices ranging from $17.55 to $37.48, were outstanding during the three months ended March 31, 2017. Also outstanding were 15,800 shares of restricted stock. None of the outstanding options or restricted stock were anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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