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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Number of Shares Used in Calculation of Basic and Diluted Earnings Per Common Share

The following table presents a reconciliation of the number of shares used in the calculation of basic and diluted earnings per common share:

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(Dollars in thousands except share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common stockholders

 

$

3,117

 

 

$

(87

)

 

$

5,531

 

 

$

244

 

Common shares outstanding for basic EPS:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

23,811,732

 

 

 

24,743,843

 

 

 

23,800,294

 

 

 

24,802,654

 

Less: Weighted average unallocated Employee Stock
   Ownership Plan (ESOP) shares

 

 

1,401,929

 

 

 

1,535,675

 

 

 

1,418,647

 

 

 

1,552,297

 

Basic weighted average common shares outstanding

 

 

22,409,803

 

 

 

23,208,168

 

 

 

22,381,647

 

 

 

23,250,357

 

Basic earnings per common share

 

$

0.14

 

 

$

(0.00

)

 

$

0.25

 

 

$

0.01

 

Potential dilutive common shares:

 

 

 

 

 

 

 

 

 

 

 

 

Add: Dilutive effect of restricted stock awards and stock options

 

 

9,506

 

 

 

 

 

 

11,371

 

 

 

24,844

 

Diluted weighted average common shares outstanding

 

 

22,419,309

 

 

 

23,208,168

 

 

 

22,393,018

 

 

 

23,275,201

 

Diluted earnings per common share

 

$

0.14

 

 

$

(0.00

)

 

$

0.25

 

 

$

0.01