Earnings Per Share

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2022		2021		2022			2021
Net income applicable to common stock	$	2,107	$	2,685	$	6,189	$	8,571
Average number of common shares outstanding		11,201,567		11,153,186		11,189,643		11,139,944
Less: Average unearned ESOP shares		357,327		379,148		362,781		384,602
Average number of common shares outstanding used to calculate basic earnings per common share		10,844,240		10,774,038		10,826,862		10,755,342
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share		49,534		61,444		57,603		64,311
Additional common stock equivalents (stock options) used to calculate diluted earnings per share		102,535		111,453		115,280		94,776
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share		10,996,309		10,946,935		10,999,745		10,914,429
Earnings per Common share:
Basic	$	0.19	$	0.25	$	0.57	$	0.80
Diluted	$	0.19	$	0.25	$	0.56	$	0.79