Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings per Share [Abstract]

Computation of Earnings per Share

The following table sets forth the computation of earnings per share.

	Three Months Ended
	March 31,
	2020		2019
Net income applicable to common stock	$	4,531,000	$	4,405,000
Basic earnings per share computation
Weighted average common shares outstanding		3,515,500		3,528,466
Earnings per share – basic	$	1.29	$	1.25
Diluted earnings per share computation
Weighted average common shares outstanding for basic earnings per share		3,515,500		3,528,466
Add: Dilutive effects of restricted stock		-		-
Weighted average common shares outstanding for dilutive earnings per share		3,515,500		3,528,466
Earnings per share – diluted	$	1.29	$	1.25