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EARNINGS PER COMMON SHARE
 3 Months Ended
Mar. 31, 2016
Earnings Per Common Share  
Earnings Per Common Share

(3)Earnings Per Common Share

 

The Company has adopted the Earnings Per Share (“EPS”) guidance included in Accounting Standards Codification (“ASC”) 260-10. As presented below, basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that would 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 earnings of the entity. For purposes of computing diluted EPS, the treasury stock method is used.

 

Unallocated ESOP shares are not deemed outstanding for earnings per share calculations.

 

Earnings per common share have been computed based on the following:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

    

2016

    

2015

    

 

 

(In thousands, except share and per share data)

 

 

 

 

 

 

 

 

 

Net income available to common stockholders

 

$
80

 

$
250

 

 

 

 

 

 

 

 

 

Basic common shares:

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 
1,788,005

 

 
1,793,805

 

Less: Weighted average unallocated ESOP shares

 

 
(79,009)

 

 
(86,250)

 

Add: Weighted average unvested restricted stock shares with non-forfeitable dividend rights

 

 
45,529

 

 
40,278

 

Basic weighted average common shares outstanding

 

 
1,754,525

 

 
1,747,833

 

 

 

 

 

 

 

 

 

Dilutive potential common shares

 

 
4,506

 

 
11,612

 

 

 

 

 

 

 

 

 

Diluted weighted average common shares outstanding

 

 
1,759,031

 

 
1,759,445

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$
0.05

 

$
0.14

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

$
0.05

 

$
0.14

 

 

Options to purchase 122,775 shares, representing all outstanding options, were included in the computation of diluted earnings per share for the three months ended March 31, 2016. Options to purchase 61,681 shares, representing outstanding options granted in 2010, 2011, 2012, 2013 and 2014, were included in the computation of diluted earnings per share for the three months ended March 31, 2015.  Options to purchase 30,000 shares that were granted in 2015 were not included in the computation of diluted earnings per share for the three months ended March 31, 2015, because to do so would have been antidilutive.