EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2025

The following information sets forth the computations of basic and diluted earnings per common share for the years ended December 31, 2025 and 2024:


	Years ended December 31,
		2025		2024

Net income		$	12,142,409	$	6,868,421

Dividends paid on unvested restricted stock		(248,458)		(26,091)
Net income attributable to common shareholders		11,893,951		6,842,330
Divided by:
Basic weighted average shares of common stock outstanding		12,742,894		6,800,841
Weighted average unvested restricted stock		31,434		34,956
Diluted weighted average shares of common stock outstanding		12,774,328		6,835,797
Basic earnings per common share		$	0.93	$	1.01
Diluted earnings per common share		$	0.93	$	1.00

Diluted earnings per common share was computed using the treasury stock method for restricted stock. Diluted earnings per common share excluded 63,489 and 35,447 weighted average shares of unvested restricted stock due to anti-dilutive effect for the years ended December 31, 2025 and 2024, respectively