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Per Share Data
6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Per Share Data

Note 4 – Per Share Data

Basic and diluted net income per common share is computed based on the weighted average number of shares outstanding during each period after retroactively adjusting for stock dividends. Diluted net income per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net income of the Company. The Company had no stock options outstanding at June 30, 2021 or December 31, 2020.

Basic and diluted net income per common share have been computed based upon net income available to common shareholders as presented in the accompanying consolidated statements of income divided by the weighted average number of common shares outstanding or assumed to be outstanding.  

The weighted average number of common shares outstanding was 7,014,214 for the three-month period ended June 30, 2021 compared to 7,123,163 for the three-month period ended June 30, 2020. For the six-month period ended June 30, 2021, the weighted average common shares outstanding was 7,032,401 compared to 7,166,134 for the six-month period ended June 30, 2020. The number of shares and earnings per share for the 2020 periods have been adjusted for the 2% stock dividend declared on October 20, 2020.