Earnings Per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share

Earnings Per Share

15.  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. Diluted earnings per share is computed in a manner similar to that of basic earnings per share except that the weighted-average number of common shares outstanding is increased to include the number of incremental shares (computed using the treasury method) that would have been outstanding if all potentially dilutive common stock equivalents (such as options) were issued during the period. Unearned ESOP shares are not deemed outstanding for earnings per share calculations.

	Three Months Ended March 31,
	2022			2021
Net income applicable to common stock	$	2,053	$	3,321
Average number of common shares outstanding		11,183,583		11,133,290
Less: Average unearned ESOP shares		368,235		390,056
Average number of common shares outstanding used to calculate basic earnings per common share		10,815,348		10,743,234
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share		60,159		61,332
Additional common stock equivalents (stock options) used to calculate diluted earnings per share		133,805		70,550
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share		11,009,312		10,875,116
Earnings per Common share:
Basic	$	0.19	$	0.31
Diluted	$	0.19	$	0.31