Earnings Per Common Share (EPS)

9 Months Ended

Sep. 30, 2019

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, 2019 and 2018.



	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2019	2018	2019	2018

Net income	$ 1,474,000	$ 1,404,000	$ 4,085,000	$ 3,827,000

Weighted average number of shares	4,378,436	4,378,436	4,378,436	4,378,436
Restricted stock units/stock options affect of incremental shares	6,895	-	4,692	30

Weighted average diluted shares	4,385,331	4,378,436	4,383,128	4,378,466


Basic EPS (weighted avg shares)	$ 0.34	$ 0.32	$ 0.93	$ 0.87

Diluted EPS (Including incremental shares)	$ 0.34	$ 0.32	$ 0.93	$ 0.87

No restricted stock units or stock options were excluded in calculating diluted earnings per share for any of the periods presented.