EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2021

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 3 – EARNINGS PER SHARE

Basic earnings per common share (“EPS”) is computed by dividing net income available to common shareholders by the weighted average common shares outstanding during the period. Diluted EPS is computed by dividing net income available to common shareholders by the weighted average common shares outstanding, plus the effect of common stock equivalents (for example, stock options computed using the treasury stock method).

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Basic and diluted earnings per share:
Net income	$	888,440	$	949,027	$	1,962,090	$	1,122,820
Weighted average common shares outstanding		2,850,124		2,836,998		2,847,042		2,833,130
Basic and dilutive net income per share	$	0.31	$	0.33	$	0.69	$	0.40

Diluted earnings per share calculations were not required for the three- and nine-month period ended September 30, 2021 and 2020, as there were no stock options outstanding.