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Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 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 March 31,

 

 

 

2022

 

 

2021

 

Net income

 

$

283,207

 

 

$

411,247

 

Earnings and dividends allocated to participating securities

 

 

(5,533

)

 

 

(3,566

)

Net income attributable to common stockholders

 

$

277,674

 

 

$

407,681

 

Weighted average common shares outstanding:

 

 

 

 

 

 

Average number of common shares outstanding - basic

 

 

10,660,921

 

 

 

9,292,488

 

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

 

 

61,142

 

 

 

16,799

 

Average number of common shares outstanding - diluted

 

 

10,722,063

 

 

 

9,309,287

 

Earnings per common share

 

 

 

 

 

 

Basic

 

$

0.03

 

 

$

0.04

 

Diluted

 

$

0.03

 

 

$

0.04