Three months ended September 30,

Nine months ended September 30,

2022

2021

2022

2021

(In thousands, except per share amounts)

Numerator:

Net income (loss) attributable to Midwest Holding, Inc.

$

7,431

$

(3,064)

$

16,883

$

(9,656)

Denominator:

Weighted average common shares outstanding

3,736,933

3,737,564

3,791,082

3,737,564

Effect of dilutive securities:

Stock options and deferred compensation agreements

52,000

—

52,000

—

Denominator for earnings (loss) per common share

3,788,933

3,737,564

3,843,082

3,737,564

Income (loss) per common share

$

1.99

$

(0.82)

$

4.52

$

(2.58)

Income (loss) per common share, diluted

$

1.96

$

(0.82)

$

4.45

$

(2.58)