Earnings Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share

Earnings Per Share

16.  Earnings Per Share

Basic earnings per share represent income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Unallocated ESOP shares are not deemed outstanding for earnings per share calculations. There were no potentially dilutive common stock equivalents as of March 31, 2020 or 2019.

	Three months ended		Three months ended
	March 31, 2020		March 31, 2019
Net income applicable to common stock	$	1,075	$	911
Average number of common shares outstanding		11,133,290		11,133,290
Less: Average unallocated ESOP shares		411,877		433,698
Average number of common shares outstanding used to calculate basic and diluted earnings per common share		10,721,413		10,699,592
Earnings per Common share:
Basic	$	0.10	$	0.09
Diluted	$	0.10	$	0.09