Earnings Per Share

3 Months Ended

Dec. 31, 2023

EARNINGS PER SHARE

Shares acquired by the ESOP are not included in basic average shares outstanding until the shares are committed for allocation or vested to an employee's individual account. Unvested shares awarded pursuant to the Company's restricted stock benefit plans are treated as participating securities in the computation of EPS pursuant to the two-class method as they contain nonforfeitable rights to dividends. The two-class method is an earnings allocation that determines EPS for each class of common stock and participating security.


	For the Three Months Ended
	December 31,
	2023		2022
	(Dollars in thousands, except per share amounts)
Net income	$	2,543	$	16,240
Income allocated to participating securities	(2)		(7)
Net income available to common stockholders	$	2,541	$	16,233

Total basic average common shares outstanding	132,353,313		134,640,932
Effect of dilutive stock options	—		—
Total diluted average common shares outstanding	132,353,313		134,640,932

Net EPS:
Basic	$	0.02	$	0.12
Diluted	$	0.02	$	0.12

Antidilutive stock options, excluded from the diluted average
common shares outstanding calculation	335,461		378,026