| Computation of Basic and Diluted Earnings Per Share |
The following table sets forth the computation of basic and diluted earnings per share:
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For the Three Months Ended June 30, |
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For the Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Net income |
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$ |
664,216 |
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$ |
591,530 |
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$ |
1,219,368 |
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$ |
857,680 |
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Earnings and dividends allocated to participating securities |
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(11,875 |
) |
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(12,302 |
) |
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(22,215 |
) |
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(18,036 |
) |
Net income attributable to common stockholders |
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$ |
652,341 |
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$ |
579,228 |
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$ |
1,197,153 |
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$ |
839,644 |
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Weighted average common shares outstanding: |
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Average number of common shares outstanding - basic |
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11,161,473 |
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11,087,539 |
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11,151,123 |
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11,080,489 |
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Net effect of dilutive unvested restricted stock awards included for treasury stock method |
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89,205 |
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47,355 |
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61,744 |
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|
40,807 |
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Average number of common shares outstanding - diluted |
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11,250,678 |
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11,134,894 |
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11,212,867 |
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11,121,296 |
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Earnings per common share |
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Basic |
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$ |
0.06 |
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$ |
0.05 |
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$ |
0.11 |
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$ |
0.08 |
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Diluted |
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$ |
0.06 |
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$ |
0.05 |
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$ |
0.11 |
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$ |
0.08 |
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