Earnings Per Share

3 Months Ended

Mar. 31, 2023

Earnings Per Share

Earnings Per Share

14.  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,
	2023		2022
Net income applicable to common stock	$	798	$	2,053
Average number of common shares outstanding		11,228,299		11,183,583
Less: Average unearned ESOP shares		346,414		368,235
Average number of common shares outstanding used to calculate basic earnings per common share		10,881,885		10,815,348
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share		34,822		60,159
Additional common stock equivalents (stock options) used to calculate diluted earnings per share		104,688		133,805
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share		11,021,395		11,009,312
Earnings per Common share:
Basic	$	0.07	$	0.19
Diluted	$	0.07	$	0.19