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Earnings Per Common Share (Tables)
6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Calculation of Earnings Per Common Share

The factors used in the earnings per common share computation follow:

 

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

 

 

2022

 

 

2021(1)

 

 

2022

 

 

2021(1)

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

Net Income

 

$

1,312

 

 

$

847

 

 

$

2,322

 

 

$

1,632

 

Less: Distributed earning allocated to participating
   securities

 

 

 

 

 

 

 

 

 

 

 

 

Less: Earnings allocated to participating securities

 

 

(10

)

 

 

 

 

 

(35

)

 

 

(26

)

Net earnings allocated to common stock

 

 

1,302

 

 

 

847

 

 

 

2,287

 

 

 

1,606

 

Weighted common shares outstanding
   including participating securities

 

 

7,405,893

 

 

 

6,734,092

 

 

 

7,405,893

 

 

 

6,733,999

 

Less: Participating securities

 

 

(181,811

)

 

 

(227,272

)

 

 

(181,811

)

 

 

(227,272

)

Less: Average unearned ESOP shares

 

 

(352,079

)

 

 

(16,060

)

 

 

(353,911

)

 

 

(16,060

)

Weighted average shares

 

 

6,872,003

 

 

 

6,490,760

 

 

 

6,870,171

 

 

 

6,490,667

 

Basic earnings per share

 

$

0.19

 

 

$

0.13

 

 

$

0.33

 

 

$

0.25

 

Dilutive

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings allocated to common stock

 

 

1,302

 

 

 

847

 

 

 

2,287

 

 

 

1,606

 

Weighted average shares

 

 

6,872,003

 

 

 

6,490,760

 

 

 

6,870,171

 

 

 

6,490,667

 

Add: dilutive effects of assumed exercises of stock
   options

 

 

93,129

 

 

 

293,901

 

 

 

86,568

 

 

 

294,423

 

Average shares and dilutive potential common shares

 

 

6,965,132

 

 

 

6,784,661

 

 

 

6,956,739

 

 

 

6,785,090

 

Dilutive earnings per share

 

$

0.19

 

 

$

0.12

 

 

$

0.33

 

 

$

0.24