Per Share Data

3 Months Ended

Mar. 31, 2022

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 March 31, 2022 or December 31, 2021.

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 6,951,961 for the three-month period ended March 31, 2022 compared to 7,262,313 for the three-month period ended March 31, 2021.