Earnings Per Share

9 Months Ended

Sep. 30, 2019

Note 3 – Earnings Per Share -

Basic earnings per share (“EPS”) represents income available to common shareholders divided by the weighted average number of common shares outstanding; no dilution for any potentially convertible shares is included in the calculation. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. The potential common shares that may be issued by the Company relate to outstanding stock options.

Earnings per common share were computed based on the following:


	Three Months Ended		Nine Months Ended
	September 30,		September 30,
(in thousands, except per share data)	2019		2019
Numerator:
Net income available to common shareholders	$	53	$	120

Denominator:
Common shares outstanding (Total issued, less unallocated ESOP shares)		1,318		1,318

Basic earnings per common share	$	0.04	$	0.09