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Earnings Per Share
 3 Months Ended
Mar. 31, 2020
Earnings Per Share  
Earnings Per Share

NOTE G – Earnings Per Share

Basic earnings per share (“EPS”) represents income available to common shareholders divided by the weighted average number of common shares outstanding; no dilution for any potentially convertible shares is included in the calculation. Diluted EPS reflects the potential dilution that could 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 Company.

Earnings per common share were computed as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 

(in thousands, except share and per share data)

    

2020

    

2019

 

 

 

 

 

 

 

Numerator:

 

 

  

 

 

  

Net income available to common shareholders

 

$

66

 

$

57

 

 

 

  

 

 

 

Denominator:

 

 

  

 

 

 

Weighted average common shares outstanding

 

 

1,540,286

 

 

1,662,436

Less: Average unallocated ESOP shares

 

 

116,380

 

 

121,670

Weighted average shares

 

 

1,423,906

 

 

1,540,766

 

 

 

  

 

 

 

Effect of dilutive securities:

 

 

  

 

 

 

Restrictive Stock

 

 

17,121

 

 

6,931

Stock Options

 

 

 —

 

 

 —

Weighted average common shares outstanding - assuming dilution

 

 

1,441,027

 

 

1,547,697

 

 

 

  

 

 

 

Basic earnings per common share

 

$

0.05

 

$

0.04

Diluted earnings per common share

 

$

0.05

 

$

0.04