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Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Summary of Computation of Basic and Diluted Earnings per Share The following table sets forth the computation of basic and diluted earnings per share for the three months and six months ended June 30, 2020 and 2019.

 

 

For the three months ended

June 30,

 

 

For the six months ended June 30,

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net income

$

6,218,000

 

 

$

1,535,000

 

 

$

7,059,000

 

 

$

2,817,000

 

Net (income) loss attributable to noncontrolling interest

 

4,000

 

 

 

(5,000

)

 

 

(5,000

)

 

 

(18,000

)

Net income available to common shareholders

$

6,222,000

 

 

$

1,530,000

 

 

$

7,054,000

 

 

$

2,799,000

 

Weighted average common shares

 

5,659,367

 

 

 

4,329,113

 

 

 

5,661,877

 

 

 

3,821,079

 

Effect of dilutive securities

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Diluted average common shares

 

5,659,367

 

 

 

4,329,113

 

 

 

5,661,877

 

 

 

3,821,079

 

Earnings per common share

$

1.10

 

 

$

0.35

 

 

$

1.25

 

 

$

0.73

 

Diluted earnings per common share

$

1.10

 

 

$

0.35

 

 

$

1.25

 

 

$

0.73