Three Months Ended September 30,

Nine Months Ended September 30,

2023

2022

2023

2022

Basic:

Net income (in 000s)

$

(2,275

)

$

1,004

$

(1,726

)

$

3,272

Less: earnings allocated to participating securities (in 000s)

8

(8

)

(110

)

(25

)

Net income allocated to common stockholders (in 000s)

(2,267

)

996

(1,836

)

3,247

Weighted-average common shares outstanding including participating securities

4,535,019

2,525,198

4,016,348

2,524,490

Less: average participating securities

(14,852

)

(18,341

)

(12,099

)

(17,768

)

Less: average unallocated ESOP shares

(145,922

)

(151,666

)

(145,922

)

(151,666

)

Average shares

4,374,245

2,355,191

3,858,327

2,355,056

Basic earnings per common share

$

(0.52

)

$

0.42

$

(0.48

)

$

1.38

Diluted:

Net income allocated to common stockholders (in 000s)

$

(2,267

)

$

996

$

(1,836

)

$

3,247

Weighted-average common shares outstanding for basic earnings per common share

4,374,245

2,355,191

3,858,327

2,355,056

Add: dilutive effects of assumed exercises of stock options

719

8,826

2,946

8,528

Add: dilutive effects of assumed exercises of warrants

—

Weighted-average shares and dilutive potential common shares

4,374,964

2,364,017

3,861,273

2,363,584

Diluted earnings per common share

$

(0.52

)

$

0.42

$

(0.48

)

$

1.37