Three Months Ended September 30,

Nine Months Ended September 30,

2023

2022

2023

2022

Net income applicable to common stock

$

1,236

$

2,107

$

3,465

$

6,189

Average number of common shares outstanding

11,046,118

11,201,567

11,145,659

11,189,643

Less: Average unearned ESOP shares

335,511

357,327

340,960

362,781

Average number of common shares outstanding used to calculate basic earnings per common share

10,710,607

10,844,240

10,804,699

10,826,862

Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share

30,770

49,534

34,791

57,603

Additional common stock equivalents (stock options) used to calculate diluted earnings per share

18,741

102,535

52,240

115,280

Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share

10,760,118

10,996,309

10,891,730

10,999,745

Earnings per Common share:

Basic

$

0.12

$

0.19

$

0.32

$

0.57

Diluted

$

0.11

$

0.19

$

0.32

$

0.56