Earnings Per Share

3 Months Ended

Mar. 31, 2026

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. There were no anti-dilutive options for the three months ended March 31, 2026 or 2025. Options with an exercise price greater than the average market price of the common shares are considered anti-dilutive. Unearned ESOP shares are not deemed outstanding for earnings per share calculations.

	Three Months Ended March 31,
	2026		2025
Net income applicable to common stock	$	2,216	$	2,288
Average number of common shares outstanding		11,124,162		11,079,828
Less: Average unearned ESOP shares		280,967		302,784
Average number of common shares outstanding used to calculate basic earnings per common share		10,843,195		10,777,044
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share		6,049		5,532
Additional common stock equivalents (stock options) used to calculate diluted earnings per share		134,118		140,788
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share		10,983,362		10,923,364
Earnings per common share:
Basic	$	0.20	$	0.21
Diluted	$	0.20	$	0.21