Earnings Per Share

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2022		2021		2022			2021
Net income applicable to common stock	$	2,029	$	2,565	$	4,082	$	5,886
Average number of common shares outstanding		11,183,583		11,133,290		11,183,583		11,133,290
Less: Average unearned ESOP shares		362,781		384,602		365,508		387,329
Average number of common shares outstanding used to calculate basic earnings per common share		10,820,802		10,748,688		10,818,075		10,745,961
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share		64,017		76,029		62,016		69,064
Additional common stock equivalents (stock options) used to calculate diluted earnings per share		107,609		103,626		121,369		87,891
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share		10,992,428		10,928,343		11,001,460		10,902,916
Earnings per Common share:
Basic	$	0.19	$	0.24	$	0.38	$	0.55
Diluted	$	0.18	$	0.23	$	0.37	$	0.54