Earnings Per Share

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Net income applicable to common stock	$	1,431	$	2,029	$	2,229	$	4,082
Average number of common shares outstanding		11,164,563		11,183,583		11,196,255		11,183,583
Less: Average unearned ESOP shares		340,965		362,781		343,692		365,508
Average number of common shares outstanding used to calculate basic earnings per common share		10,823,598		10,820,802		10,852,563		10,818,075
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share		41,230		64,017		37,617		62,016
Additional common stock equivalents (stock options) used to calculate diluted earnings per share		18,009		107,609		66,288		121,369
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share		10,882,837		10,992,428		10,956,468		11,001,460
Earnings per Common share:
Basic	$	0.13	$	0.19	$	0.21	$	0.38
Diluted	$	0.13	$	0.18	$	0.20	$	0.37