Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Earnings (Loss) Per Share, Basic and Diluted

Earnings (loss) per common share for the three and nine months ended September 30, 2023 and 2022 are presented in the following tables.

	Three months ended September 30,
	2023			2022
	(In thousands, except per share amounts)
Net (loss) income	$	(3,641	)	$	124
Weighted shares outstanding for basic EPS
Weighted average shares outstanding		5,976,208			6,271,370
Less: Weighted average unallocated ESOP shares		441,497			461,185
Weighted average shares outstanding for basic EPS		5,534,711			5,810,185
Additional dilutive shares(1)		—			173,056
Weighted average shares outstanding for dilutive EPS		5,534,711			5,983,241
Basic (loss) earnings per share	$	(0.66	)	$	0.02
Diluted (loss) earnings per share(1)	$	(0.66	)	$	0.02

	Nine months ended September 30,
	2023			2022
	(In thousands, except per share amounts)
Net (loss)	$	(4,510	)	$	(172	)
Weighted shares outstanding for basic EPS
Weighted average shares outstanding		5,984,897			6,278,914
Less: Weighted average unallocated ESOP shares		446,388			436,730
Weighted average shares outstanding for basic EPS		5,538,509			5,842,184
Additional dilutive shares (1)		—			—
Weighted average shares outstanding for dilutive EPS		5,538,509			5,842,184
Basic (loss) per share	$	(0.81	)	$	(0.03	)
Diluted (loss) per share (1)	$	(0.81	)	$	(0.03	)

(1) For the three and nine months ended September 30, 2023 and the nine months ended September 30, 2022, the effect of stock options was anti-dilutive due to the net loss and therefore no dilutive shares are included in the weighted average shares outstanding or diluted loss calculations.