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Earnings Per Common Share (Tables)
6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Number of Common Shares Used in Calculation of Basic and Diluted Earnings Per Common Share

The following table presents a reconciliation of the number of common 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,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(Dollars in thousands except share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to common stockholders

 

$

5,818

 

 

$

3,117

 

 

$

11,496

 

 

$

5,531

 

Common shares outstanding for basic EPS:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

23,984,800

 

 

 

23,811,732

 

 

 

23,974,722

 

 

 

23,800,294

 

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

 

 

1,268,185

 

 

 

1,401,929

 

 

 

1,284,808

 

 

 

1,418,647

 

Basic weighted average common shares outstanding

 

 

22,716,615

 

 

 

22,409,803

 

 

 

22,689,914

 

 

 

22,381,647

 

Basic earnings per common share

 

$

0.26

 

 

$

0.14

 

 

$

0.51

 

 

$

0.25

 

Potential dilutive common shares:

 

 

 

 

 

 

 

 

 

 

 

 

Add: Dilutive effect of restricted stock awards and stock options

 

 

231,154

 

 

 

9,506

 

 

 

230,927

 

 

 

11,371

 

Diluted weighted average common shares outstanding

 

 

22,947,769

 

 

 

22,419,309

 

 

 

22,920,841

 

 

 

22,393,018

 

Diluted earnings per common share

 

$

0.25

 

 

$

0.14

 

 

$

0.50

 

 

$

0.25