Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2021

Earnings (Loss) Per Share

Earnings (Loss) Per Share

Note 2 – Earnings (Loss) Per Share

Basic earnings per share (“EPS”) represents income available or loss attributable 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:

	Year Ended December 31,
(in thousands, except per share data)	2021		2020
Numerator:
Net income (loss) available to common stockholders	$	146	$	(103)
Denominator:
Weighted average common shares outstanding		1,190		1,386
Less: Average unallocated ESOP shares		103		108
Weighted average shares		1,087		1,278
Basic earnings (loss) per common share	$	0.13	$	(0.08)