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Earnings (Loss) Per Share (EPS) (Tables)
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted

Earnings (loss) per common share for the years ended December 31, 2023 and 2022 is presented in the following table.

 

 

Year ended December 31,

 

2023

 

 

2022

 

 

 

(In thousands, except per share amounts)

 

 

 

 

 

 

 

 

Net loss

 

$

(6,792

)

 

$

(148

)

 

 

 

 

 

 

 

 

 

Weighted shares outstanding for basic EPS

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

5,977,859

 

 

 

6,216,791

 

 

Less: Weighted average unallocated ESOP shares

 

 

443,900

 

 

 

441,651

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding for basic EPS

 

 

5,533,959

 

 

 

5,775,140

 

 

Additional dilutive shares (1)

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding for dilutive EPS

 

 

5,533,959

 

 

 

5,775,140

 

 

 

 

 

 

 

 

 

 

Basic (loss) per share

 

$

(1.23

)

 

$

(0.03

)

 

Diluted (loss) per share (1)

 

$

(1.23

)

 

$

(0.03

)

 

 

(1) For 2023 and 2022, the effect of the 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.