Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.22.2.2
Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net income

 

$

929,864

 

 

$

629,062

 

 

$

1,617,271

 

 

$

1,901,608

 

Earnings and dividends allocated to participating securities

 

 

(6,227

)

 

 

(6,929

)

 

 

(17,955

)

 

 

(18,494

)

Net income attributable to common stockholders

 

$

923,637

 

 

$

622,133

 

 

$

1,599,316

 

 

$

1,883,114

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Average number of common shares outstanding - basic

 

 

10,924,646

 

 

 

10,601,521

 

 

 

10,785,362

 

 

 

9,757,458

 

Net effect of dilutive unvested restricted stock awards included for treasury stock method

 

 

53,354

 

 

 

33,485

 

 

 

57,153

 

 

 

29,859

 

Average number of common shares outstanding - diluted

 

 

10,978,000

 

 

 

10,635,006

 

 

 

10,842,515

 

 

 

9,787,317

 

Earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.08

 

 

$

0.06

 

 

$

0.15

 

 

$

0.19

 

Diluted

 

$

0.08

 

 

$

0.06

 

 

$

0.15

 

 

$

0.19