Note 3 - Earnings Per Share

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

3

Earnings Per Share

Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding, adjusted for weighted average unallocated ESOP shares, during the applicable period, excluding outstanding participating securities.  Participating securities include non-vested restricted stock awards and restricted stock units, though

no

actual shares of common stock related to restricted stock units are issued until the settlement of such units, to the extent holders of these securities receive non-forfeitable dividends or dividend equivalents at the same rate as holders of the Company's common stock. Diluted earnings per share is computed using the weighted-average number of shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method.

The following table presents a reconciliation of the number of shares used in the calculation of basic and diluted earnings per common share (in thousands, except share and per share data).

	Three Months Ended March 31,
	2019			2018
Net income	$	249		$	123
Basic potential common shares
Weighted average shares outstanding		6,692,453			6,612,500
Weighted average unallocated Employee Stock Ownership Plan Shares		(242,187	)		(254,103	)
Basic weighted average shares outstanding		6,450,266			6,358,397
Dilutive potential common shares		220			-
Dilutive weighted average shares outstanding		6,450,486			6,358,397
Basic earnings per share	$	0.04		$	0.02
Diluted earnings per share	$	0.04		$	0.02