Earnings Per Share

6 Months Ended

Jun. 30, 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 and six months ended June 30, 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 June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net income applicable to common stock	$	2,616	$	2,726	$	4,832	$	5,014
Average number of common shares outstanding		11,105,457		11,084,776		11,114,757		11,082,316
Less: Average unearned ESOP shares		275,513		297,330		278,240		300,057
Average number of common shares outstanding used to calculate basic earnings per common share		10,829,944		10,787,446		10,836,517		10,782,259
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share		9,874		7,297		6,678		6,467
Additional common stock equivalents (stock options) used to calculate diluted earnings per share		118,299		159,381		127,339		151,116
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share		10,958,117		10,954,124		10,970,534		10,939,842
Earnings per common share:
Basic	$	0.24	$	0.25	$	0.45	$	0.47
Diluted	$	0.24	$	0.25	$	0.44	$	0.46