Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share

Schedule of earnings per share, basic and diluted

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net income applicable to common stock	$	(8,062)	$	1,236	$	(5,966)	$	3,465
Average number of common shares outstanding		11,072,607		11,046,118		11,072,607		11,145,659
Less: Average unearned ESOP shares		313,693		335,511		319,147		340,960
Average number of common shares outstanding used to calculate basic earnings per common share		10,758,914		10,710,607		10,753,460		10,804,699
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share		—		30,770		—		34,791
Additional common stock equivalents (stock options) used to calculate diluted earnings per share		—		18,741		—		52,240
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share		10,758,914		10,760,118		10,753,460		10,891,730
Earnings (loss) per Common share:
Basic	$	(0.75)	$	0.12	$	(0.55)	$	0.32
Diluted (1)	$	(0.75)	$	0.11	$	(0.55)	$	0.32

(1)    Because the Company was in a net loss position for the three and nine months ended September 30, 2024, diluted net loss per share is the same as basic net loss per share, as the inclusion of potentially dilutive common shares would have been anti-dilutive. The weighted average anti-dilutive common shares not included in the calculation of diluted earnings per share were 89,133 and 84,117 for the three and nine months ended September 30, 2024.