Note 8 - Earnings (Loss) Per Share
 3 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
Earnings Per Share [Text Block]
NOTE
8
– 
EARNINGS
(LOSS)
PER SHARE
 
The
two
-class method is used in the calculation of basic and diluted earnings per share. Under the
two
-class method, earnings available to common shareholders for the period are allocated between common shareholders and participating securities according to dividends declared (or accumulated) and participation rights in undistributed earnings. The factors used in the earnings per share computation follow:
 
 
   
Three Months Ended March 31,
  
   
2018
    
2017
  
                 
Basic:
                
Net income (loss) available to common shareholders
  
$
370,627
    $
(197,750
 )
Less: Earnings allocated to participating securities
  
 
(8,495
)
    
-
  
                 
Net income (loss) allocated to common shareholders
  
$
362,132
    $
(197,750
 )
                 
Weighted-average common shares outstanding including participating securities
  
 
3,444,390
     
3,438,190
  
Less: Average participating securities
  
 
(74,907
)
    
-
  
Less: Average unallocated ESOP Shares
  
 
(176,102
)
    
(181,887
 )
                 
Average shares
  
 
3,193,381
     
3,256,303
  
                 
Basic earnings per common share
  
$
0.11
    $
(0.06
 )
                 
Diluted:
                
Net income allocated to common shareholders
  
$
362,132
    $
(197,750
 )
                 
Weighted-average common shares outstanding for basic earnings per common share
  
 
3,193,381
     
3,256,303
  
Add: Dilutive effects of assumed exercises of stock options
  
 
13,745
     
-
  
                 
Weighted average shares and dilutive potential common shares
  
 
3,207,126
     
3,256,303
  
                 
Diluted earnings per common share
  
$
0.11
    $
(0.06
 )
 
 
Participating securities are restricted stock awards since they participate in common stock dividends. Stock options for
34,190
shares of common stock were
not
considered in computing diluted earnings per common share for the
three
months ended
March 31, 2017
because they were antidilutive.  There were
no
stock options considered antidilutuve for the
three
months ended
March 31, 2018.