Income Per Common Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

The following table is a summary of the reconciliation of weighted average shares outstanding for the three months ended September 30:

The following table is a summary of the reconciliation of weighted average shares outstanding for the three months ended September 30:

	2022		2021
Net income	$	1,840,267	$	1,726,937
Weighted average shares outstanding		5,552,351		5,535,906
Effect of dilutive shares		98,448		150,344
Weighted average shares outstanding - diluted		5,650,799		5,686,250
Earnings per share - basic	$	0.33	$	0.31
Earnings per share - diluted	$	0.33	$	0.30

The following table is a summary of the reconciliation of weighted average shares outstanding for the nine months ended September 30:

	2022		2021
Net income	$	4,847,355	$	5,205,696
Weighted average shares outstanding		5,549,312		5,528,868
Effect of dilutive shares		92,950		155,616
Weighted average shares outstanding - diluted		5,642,262		5,684,484
Earnings per share - basic	$	0.87	$	0.94
Earnings per share - diluted	$	0.86	$	0.92