Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Significant Accounting Policies

Schedule of Earnings per common share

Years Ended December 31,	2020		2019
Net income, as reported	$	10,758,502	$	8,824,446
Less: dividends to preferred shareholders		54,375		87,500
Net income available to common shareholders	$	10,704,127	$	8,736,946
Weighted average number of common shares
used in calculating earnings per share		5,274,785		5,204,768
Earnings per common share	$	2.03	$	1.68