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Note 4 - Earnings Per Share | 6 Months Ended
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Jun. 30, 2019
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 and restricted stock 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 |  |  | For the Six |
|  | Months Ended |  |  | Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Weighted-average common shares issued |  |  | 3,643,271 |  |  |  | 3,611,891 |  |  |  | 3,639,310 |  |  |  | 3,609,174 |
Average treasury stock shares |  |  | (392,017 | ) |  |  | (386,165 | ) |  |  | (389,107 | ) |  |  | (386,165 | )
Weighted-average common shares and common stock equivalents used to calculate basic earnings per share |  |  | 3,251,254 |  |  |  | 3,225,726 |  |  |  | 3,250,203 |  |  |  | 3,223,009 |
Additional common stock equivalents (stock options and restricted stock) used to calculate diluted earnings per share |  |  | 6,219 |  |  |  | 14,603 |  |  |  | 6,322 |  |  |  | 15,227 |
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share |  |  | 3,257,473 |  |  |  | 3,240,329 |  |  |  | 3,256,525 |  |  |  | 3,238,236 |
Options to purchase 7,250 shares of common stock at $17.55 per share, were outstanding during the three and six months ended June 30, 2019. Also outstanding were 30,667 shares of restricted stock. None of the outstanding options or restricted stock were anti-dilutive. Options to purchase 13,750 shares of common stock, at prices ranging from $17.55 to $23.00, were outstanding during the three and six months ended June 30, 2018. Also outstanding were 20,425 shares of restricted stock. None of the outstanding options or restricted stock were anti-dilutive. When shares recognized as equity are repurchased, the amount of the consideration paid, which includes directly attributable costs, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares and are presented in the treasury share reserve. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity and the resulting surplus or deficit on the transaction is presented within the share premium. The reserve for the Company’s treasury shares comprises the cost of the Company’s shares held by the Company. As of June 30, 2019, the Company held 403,912 of the Company’s shares, which is an increase of 17,747 from the 386,165 shares held as of December 31, 2018.

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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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