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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2019
Earnings Per Share  
Schedule of Weighted Average Number of Shares

The computations are as follows for December 31, 2019 and 2018:

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

    

2019

    

2018

 

 

 

 

 

 

 

Net income

 

$

798,474

 

$

2,301,322

Less allocation of earnings to participating securities

 

 

7,372

 

 

27,184

Net income allocated to common shareholders

 

 

791,102

 

 

2,274,138

 

 

 

 

 

 

 

Shares outstanding for basic earnings per share:

 

 

  

 

 

  

Shares issued

 

 

1,800,736

 

 

1,741,985

Less: Average unearned ESOP and unvested restricted stock

 

 

48,305

 

 

50,551

Weighted-average shares outstanding - basic

 

 

1,752,431

 

 

1,691,434

 

 

 

 

 

 

 

Basic earnings per common share

 

$

0.45

 

$

1.34

 

 

 

 

 

 

 

Effect of dilutive securities:

 

 

  

 

 

  

Weighted-average shares outstanding - basic

 

 

1,752,431

 

 

1,691,434

Stock options

 

 

25,938

 

 

3,825

Weighted-average shares outstanding - diluted

 

 

1,778,369

 

 

1,695,259

Diluted earnings per share

 

$

0.44

 

$

1.34