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Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2024
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,

 

 

 

2024

 

 

2023

 

Net income

 

$

266,150

 

 

$

992,541

 

Earnings and dividends allocated to participating securities

 

 

(5,734

)

 

 

(5,264

)

Net income attributable to common stockholders

 

$

260,416

 

 

$

987,277

 

Weighted average common shares outstanding:

 

 

 

 

 

 

Average number of common shares outstanding - basic

 

 

11,073,439

 

 

 

11,034,193

 

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

 

 

37,524

 

 

 

46,318

 

Average number of common shares outstanding - diluted

 

 

11,110,963

 

 

 

11,080,511

 

Earnings per common share

 

 

 

 

 

 

Basic

 

$

0.02

 

 

$

0.09

 

Diluted

 

$

0.02

 

 

$

0.09