For the Year Ended December 31,

2024

2023

Net income

$

2,123,743

$

2,938,769

Earnings and dividends allocated to participating securities

(39,535

)

(24,425

)

Net income attributable to common stockholders

$

2,084,208

$

2,914,344

Weighted average common shares outstanding:

Average number of common shares outstanding - basic

11,094,915

11,045,699

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

48,916

41,518

Average number of common shares outstanding - diluted

11,143,831

11,087,217

Earnings per common share

Basic

$

0.19

$

0.26

Diluted

$

0.19

$

0.26