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AVERAGE SHARE INFORMATION
 3 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
AVERAGE SHARE INFORMATION AVERAGE SHARE INFORMATION
The following is a summary of the basic and diluted average common shares outstanding:
Three months ended June 30,
20222021
Basic:  
Weighted average common shares outstanding (denominator)5,740,835 6,158,486 
Diluted:  
Weighted average common shares outstanding5,740,835 6,158,486 
Dilutive potential common shares1— 297,267 
Weighted average diluted shares outstanding (denominator)5,740,835 6,455,753 
 
Options to purchase 341,880 and 493,554 shares of common stock at various prices were outstanding during the three months ended June 30, 2022 and 2021 respectively, but were not included in diluted shares outstanding because the option exercise price exceeded the market value of the shares.