Earnings per Common Share

9 Months Ended

Sep. 30, 2016

Note 3: Earnings per Common Share

Basic earnings per share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Net income available to common stockholders is net income to FSB Bancorp, Inc. The Company has not granted any restricted stock awards or stock options and, during the three and nine month periods ended September 30, 2016 and 2015, had no potentially dilutive common stock equivalents. Unallocated common shares held by the ESOP are not included in the weighted-average number of common shares outstanding for purposes of calculating earnings per common share until they are committed to be released.

The following tables set forth the calculation of basic earnings per share. Historical share and per share data have been adjusted by the exchange ratio of 1.0884 used in the conversion and offering.

	Three months ended
	September 30,
(In thousands, except per share data)	2016		2015
Basic Earnings Per Common Share
Net income available to common stockholders	$	252	$	261
Weighted average common shares outstanding		1,905		1,893
Basic earnings per common share	$	0.13	$	0.14

	Nine months ended
	September 30,
(In thousands, except per share data)	2016		2015
Basic Earnings Per Common Share
Net income available to common stockholders	$	439	$	379
Weighted average common shares outstanding		1,899		1,893
Basic earnings per common share	$	0.23	$	0.20