14.EARNINGS PER SHARE (“EPS”)

Basic EPS represents net income attributable to common shareholders divided by the weighted-average number of common shares outstanding during the period. Unvested restricted shares are participating securities and included in the computation of basic earnings per share. Diluted EPS is computed by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding, plus the effect of potential dilutive common stock equivalents outstanding during the period. Unallocated ESOP shares are not deemed outstanding for EPS calculations.


	Three Months Ended March 31,
	2020		2019

Net income available to common stockholders (in thousands)	$	4,724	$	2,067

Average number of common shares outstanding		58,418,021		58,461,006
Less: Average unallocated ESOP shares		(4,025,556)		(1,794,027)
Weighted average number of common shares outstanding used to calculate basic earnings per common share		54,392,465		56,666,979
Weighted average number of common shares outstanding used to calculate diluted earnings per common share		54,392,465		56,666,979

Earnings per common share:
Basic	$	0.09	$	0.04
Diluted	$	0.09	$	0.04

Share amounts related to periods prior to the August 14, 2019 closing of the conversion offering have been restated to give retroactive recognition to the 1.795431 exchange ratio applied in the conversion offering.

Stock options for 2,169,243 and 2,244,062 shares of common stock for the three months ended March 31, 2020 and 2019, respectively, were not considered in computing diluted earnings per share because they were antidilutive.