Earnings Per Common Share (EPS)

9 Months Ended

Sep. 30, 2018

Note 3 – Earnings Per Common Share (EPS)

The following is a summary of the earnings per share calculation for the three and nine months ended September 30, 2018 and 2017.



	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2018	2017	2018	2017

Net income	$ 1,404,000	$ 1,015,000	$ 3,827,000	$ 2,562,000

Weighted average number of shares	4,378,436	4,378,436	4,378,436	4,378,436
Options effect of incremental shares	-	83	30	88

Weighted average diluted shares	4,378,436	4,378,519	4,378,466	4,378,524


Basic EPS (weighted avg shares)	$ 0.32	$ 0.23	$ 0.87	$ 0.59

Diluted EPS (Including Option Shares)	$ 0.32	$ 0.23	$ 0.87	$ 0.59

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