EARNINGS PER SHARE COMMON

9 Months Ended

Sep. 30, 2025

EARNINGS PER SHARE COMMON

EARNINGS PER SHARE COMMON

13. EARNINGS PER SHARE COMMON

Basic earnings per share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Net income available to common stockholders is net income to the Company. During the three months ended September 30, 2025 and 2024, the Company had 28,621 and 441 potentially dilutive common stock equivalents. During the nine months ended September 30, 2025 and 2024, the Company had 21,398 and 855 potentially dilutive common stock equivalents. Unallocated common shares held by the ESOP are not included in the weighted-average number of common shares outstanding for purposes of calculating earnings per common share until they are committed to be released. Antidilutive share are not include in the weighted-average number of common share outstanding for purposes of calculating earnings per common shares until they become dilutive.

The following table sets forth the calculation of basic and diluted earnings per share:

	Three months ended
	September 30,
(Dollars in Thousands Except per Share Data)	2025		2024
	Unaudited
Basic earnings per common share:
Net income available to common stockholders	$	185	$	328
Weighted average common shares outstanding basic		1,766,671		1,754,087
Weighted average common shares outstanding dilutive		1,794,651		1,760,517
Earnings per share basic	$	0.10	$	0.19
Earnings per share dilutive	$	0.10	$	0.19

	Nine months ended September 30,
(Dollars in Thousands Except per Share Data)	2025		2024
Basic earnings per common share:
Net income available to common stockholders	$	137	$	610
Weighted average common shares outstanding basic		1,766,030		1,760,076
Weighted average common shares outstanding dilutive		1,787,428		1,760,931
Earnings per share basic	$	0.08	$	0.35
Earnings per share dilutive	$	0.08	$	0.35