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Note 4 - Earnings Per Share
 3 Months Ended
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.