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Earnings Per Common Share (EPS)
 3 Months Ended
Mar. 31, 2018
Earnings Per Common Share (EPS) [Abstract]  
Earnings Per Common Share (EPS)

Note 3 – Earnings Per Common Share (EPS)

Currently, only the option shares granted to certain officers and other employees of Financial pursuant to the Amended and Restated Stock Option Plan of 1999 Financial (the “1999 Plan”) are considered in calculating diluted earnings per share.  The following is a summary of the earnings per share calculation for the three months ended March 31, 2018 and 2017.





 

 

 



 

 

 



Three Months Ended



March 31,



2018

 

2017



 

 

 

Net income

$      1,123,000

 

$        760,000



 

 

 

Weighted average number of shares

 4,378,436 

 

 4,378,436 

Options affect of incremental shares

 90 

 

 99 



 

 

 

Weighted average diluted shares

 4,378,526 

 

 4,378,535 



 

 

 



 

 

 

Basic EPS (weighted avg shares)

$               0.26

 

$              0.17



 

 

 

Diluted EPS (Including Option Shares)

$               0.26

 

$              0.17

No option shares were excluded in calculating diluted earnings per share for either of the periods presented.