Earnings Per Share (EPS)

3 Months Ended

Mar. 31, 2025

Note 19: Earnings Per Share (EPS)

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding, adjusted for weighted average unallocated ESOP shares, during the applicable period. Diluted earnings per share is computed using the weighted average number of shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method.

Earnings per common share for the three months ended March 31, 2025 and 2024 is presented in the following table:


	Three Months Ended March 31,
	2025		2024

	(dollars in thousands, except per share amounts)
Net income	$	285	$	276
Weighted shares outstanding for basic EPS
Weighted average shares outstanding		1,725,000		1,725,000
Less: Weighted average unallocated ESOP shares		(126,272)		(131,100)
Less: Weighted average Treasury shares		(55,214)		(40,000)
Add: Weighted average shares in Rabbi Trust for Deferred Compensation Plan		40,000		40,000
Weighted average shares outstanding for basic EPS		1,583,514		1,593,900
Additional dilutive shares		—		—
Weighted average shares outstanding for dilutive EPS		1,583,514		1,593,900
Basic income per share	$	0.18	$	0.17
Diluted income per share	$	0.18	$	0.17