Earnings Per Share

3 Months Ended

Mar. 31, 2020

Note 3 – Earnings Per Share -

Basic earnings per share (“EPS”) represents income (loss) 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.

Earnings per common share were computed based on the following:


	Three Months Ended
	March 31,
(in thousands, except per share data)	2020
Numerator:
Net (loss) available to common shareholders	$	(7)

Denominator:
Common shares outstanding (Total issued, less unallocated ESOP shares)		1,320

Basic (loss) per common share	$	(0.01)