Earnings Per Common Share (EPS)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Common Share (EPS)

The computations of basic and diluted earnings per share were as follows for the periods presented below:

	THREE MONTHS ENDED				NINE MONTHS ENDED
	SEPTEMBER 30,				SEPTEMBER 30,
	2020		2019		2020		2019
	(Unaudited)
Basic Earnings Per Share Computation:
Net income	$	1,066,963	$	183,710	$	2,039,478	$	260,050
Weighted average number of common shares		8,450,843		8,423,435		8,409,114		8,401,405
Basic Earnings Per Share	$	0.13	$	0.02	$	0.24	$	0.03
Diluted Earnings Per Share Computation:
Net income	$	1,066,963	$	183,710	$	2,039,478	$	260,050
Weighted average number of common shares		8,450,843		8,423,435		8,409,114		8,401,405
Incremental shares from assumed conversions
of dilutive securities		76,466		3,747		54,447		3,747
Adjusted weighted average number of
common shares		8,527,309		8,427,183		8,463,561		8,405,152
Diluted Earnings Per Share	$	0.13	$	0.02	$	0.24	$	0.03