Earnings Per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

8. EARNINGS PER SHARE

Basic earnings per share is computed using the weighted average number of shares outstanding. Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributed to potentially diluted securities. The following table sets forth the computation of basic and diluted earnings per share:

	For the Three Months Ended March 31,
	2019		2018
Net income	$	187,823	$	59,126
Weighted average common shares outstanding:
Average number of common shares outstanding - basic		7,630,722		7,619,469
Net effect of dilutive unvested restricted stock awards included for treasury stock method		7,011		20
Average number of common shares outstanding - diluted		7,637,733		7,619,489
Earnings per common share
Basic	$	0.02	$	0.01
Diluted	$	0.02	$	0.01

Common stock dividends totaled $503,294 ($0.065 per share) and $495,266 ($0.065 per share) for the three months ended March 31, 2019 and 2018, respectively.   The classification of these dividends for federal income tax purposes is expected to be determined after the Company’s fiscal year ending December 31, 2019.