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Earnings Per Common Share (EPS)
 3 Months Ended
Mar. 31, 2024
Earnings Per Common Share (EPS) [Abstract]  
Earnings Per Common Share (EPS) Note 3 – Earnings Per Common Share (EPS)

The following is a summary of the earnings per share calculation for the three months ended March 31, 2024 and 2023.

Three-months Ended

March 31,

2024

2023

Net income

$      2,187,000

$      1,984,000

Weighted average number of shares outstanding - basic and diluted

4,543,338

4,618,684

Earnings per common share - basic and diluted

$               0.48

$               0.43

There were no potentially dilutive shares outstanding in 2024 and 2023. Consequently, the weighted average shares and weighted average diluted shares were identical.