Earnings Per Common Share (EPS)

6 Months Ended

Jun. 30, 2018

Earnings Per Common Share (EPS) [Abstract]

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 and six months ended June 30, 2018 and 2017.



	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2018	2017	2018	2017

Net income	$ 1,300,000	$ 787,000	$ 2,423,000	$ 1,547,000

Weighted average number of shares	4,378,436	4,378,436	4,378,436	4,378,436
Options effect of incremental shares	-	83	45	91

Weighted average diluted shares	4,378,436	4,378,519	4,378,481	4,378,527


Basic EPS (weighted avg shares)	$ 0.30	$ 0.18	$ 0.55	$ 0.35

Diluted EPS (Including Option Shares)	$ 0.30	$ 0.18	$ 0.55	$ 0.35

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