| 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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2026 |
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2025 |
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2026 |
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2025 |
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Net income |
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$ |
829,615 |
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$ |
664,216 |
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$ |
1,306,634 |
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$ |
1,219,368 |
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Earnings and dividends allocated to participating securities |
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(12,565 |
) |
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(11,875 |
) |
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(22,844 |
) |
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(22,215 |
) |
Net income attributable to common stockholders |
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$ |
817,050 |
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$ |
652,341 |
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$ |
1,283,790 |
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$ |
1,197,153 |
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Weighted average common shares outstanding: |
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Average number of common shares outstanding - basic |
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11,233,431 |
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11,161,473 |
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11,223,023 |
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11,151,123 |
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Net effect of dilutive unvested restricted stock awards included for treasury stock method |
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56,690 |
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89,205 |
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55,760 |
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61,744 |
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Average number of common shares outstanding - diluted |
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11,290,121 |
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11,250,678 |
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11,278,783 |
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11,212,867 |
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Earnings per common share |
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Basic |
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$ |
0.07 |
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$ |
0.06 |
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$ |
0.11 |
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$ |
0.11 |
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Diluted |
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$ |
0.07 |
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$ |
0.06 |
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$ |
0.11 |
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$ |
0.11 |
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