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Note 9 - Earnings Per Share | 12 Months Ended
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Dec. 31, 2015
Notes to Financial Statements |
Earnings Per Share [Text Block] | Note 9 – Earnings per Share The calculation of basic and diluted weighted average common shares outstanding is as follows:
|  | 2015 |  |  | 2014 |
Weighted average common shares outstanding basic earnings per share |  |  | 6,175,254 |  |  |  | 6,129,831 |
Effect of potential common share issuance: |  |  |  |  |  |  |  |
Stock options |  |  | 108,053 |  |  |  | --- |
Weighted average common shares outstanding |  |  |  |  |  |  |  |
Diluted earnings per share |  |  | 6,283,307 |  |  |  | 6,129,831 |
Stock options to purchase 259,730 shares of common stock were outstanding and 159,730 were exercisable at December 31, 2015. At December 31, 2015 all outstanding options were included in the diluted earnings per share calculation because the average market price was higher than the exercise price. At December 31, 2014 none of the outstanding options were included in the diluted earnings per share calculation as their effect would have been anti-dilutive.

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