For the Year Ended December 31,

2023

2022

Net income

$

2,938,769

$

2,057,723

Earnings and dividends allocated to participating securities

(24,425

)

(23,567

)

Net income attributable to common stockholders

$

2,914,344

$

2,034,156

Weighted average common shares outstanding:

Average number of common shares outstanding - basic

11,045,699

10,845,884

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

41,518

54,157

Average number of common shares outstanding - diluted

11,087,217

10,900,041

Earnings per common share

Basic

$

0.26

$

0.19

Diluted

$

0.26

$

0.19