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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2019
Summary of Significant Accounting Policies  
Schedule of earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31, 

 

 

(in thousands, except per share data)

 

2019

    

2018

 

    

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Net income available to common shareholders

 

$

355

 

$

418

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

1,614,693

 

 

1,666,804

 

 

Less: Average unallocated ESOP shares

 

 

121,656

 

 

126,946

 

 

Weighted average shares

 

 

1,493,037

 

 

1,539,858

 

 

 

 

 

 

 

 

 

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Restrictive Stock

 

 

11,386

 

 

 —

 

 

Stock Options

 

 

 —

 

 

 —

 

 

Weighted average common shares outstanding - assuming dilution

 

 

1,504,423

 

 

1,539,858

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

0.24

 

$

0.27

 

 

Diluted earnings per common share

 

$

0.24

 

$

0.27