Annual report pursuant to Section 13 and 15(d)

Earnings per Common Share

v3.6.0.2
Earnings per Common Share
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Note 13 – Earnings per Common Share
 
Earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding. A reconciliation of the numerators and denominators of the basic earnings per common share and diluted earnings per common share computations for 2016 and 2015 is presented below.
 
 
 
2016
 
 
2015
 
Basic earnings per common share:
 
 
 
 
 
 
 
 
Net income available to common stockholders
 
$
9,141,725
 
 
$
7,852,142
 
Weighted-average common shares outstanding
 
 
2,858,556
 
 
 
2,850,801
 
Basic earnings per common share
 
$
3.20
 
 
$
2.75
 
 
 
 
 
 
 
 
 
 
Diluted earnings per common share:
 
 
 
 
 
 
 
 
Net income available to common stockholders
 
$
9,141,725
 
 
$
7,852,142
 
Weighted-average common shares outstanding
 
 
2,858,556
 
 
 
2,850,801
 
Weighted-average common and dilutive potential common shares outstanding
 
 
2,858,601
 
 
 
2,850,801
 
Diluted earnings per common share
 
$
3.20
 
 
$
2.75
 
 
There were 500 dilutive shares outstanding at December 31, 2016 and 750 anti-dilutive shares outstanding at December 31, 2015.