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Earnings Per Share
 6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Earnings Per Share

9. 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 June 30,

 

 

For the Six Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Net income (loss)

 

$

861,299

 

 

$

(22,144

)

 

$

1,272,546

 

 

$

(378,568

)

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average number of common shares outstanding - basic

 

 

9,363,981

 

 

 

9,269,567

 

 

 

9,328,432

 

 

 

9,266,189

 

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

 

 

38,498

 

 

 

—

 

 

 

42,503

 

 

 

—

 

Average number of common shares outstanding - diluted

 

 

9,402,479

 

 

 

9,269,567

 

 

 

9,370,935

 

 

 

9,266,189

 

Earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.09

 

 

$

(0.00

)

 

$

0.14

 

 

$

(0.04

)

Diluted

 

$

0.09

 

 

$

(0.00

)

 

$

0.14

 

 

$

(0.04

)

 

Common stock dividends totaled $612,228 ($0.065 per share) and $608,153 ($0.065 per share) for the three months ended June 30, 2021 and 2020, respectively, and $1,219,531 ($0.13 per share) and $1,214,623 ($0.13 per share) for the six months ended June 30, 2021 and 2020, respectively.