Earnings Per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share

Earnings Per Share

13.  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. There were no anti-dilutive options for the three months ended March 31, 2024 or 2023. Unearned ESOP shares are not deemed outstanding for earnings per share calculations.

	Three Months Ended March 31,
	2024		2023
Net income applicable to common stock	$	1,121	$	798
Average number of common shares outstanding		11,072,607		11,228,299
Less: Average unearned ESOP shares		324,601		346,414
Average number of common shares outstanding used to calculate basic earnings per common share		10,748,006		10,881,885
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share		—		34,822
Additional common stock equivalents (stock options) used to calculate diluted earnings per share		96,281		104,688
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share		10,844,287		11,021,395
Earnings per Common share:
Basic	$	0.10	$	0.07
Diluted	$	0.10	$	0.07