XML 20 R9.htm IDEA: XBRL DOCUMENT v3.21.1
Loss Per Share of Common Stock
 3 Months Ended
Mar. 31, 2021
Loss Per Share of Common Stock [Abstract]  
Loss Per Share of Common Stock
NOTE (3) – Loss Per Share of Common Stock

Basic earnings per share of common stock is computed pursuant to the two-class method by dividing net income available to common stockholders less any undistributed earnings attributable to participating securities by the weighted average common shares outstanding during the period.  The weighted average common shares outstanding includes the weighted average number of shares of common stock outstanding less the weighted average number of unvested shares of restricted common stock.  ESOP shares are considered outstanding for this calculation unless unearned.  Diluted earnings per share of common stock includes the dilutive effect of unvested stock awards and additional potential common shares issuable under stock options.

The following table shows how the Company computed basic and diluted earnings per share of common stock for the periods indicated:

  
For the three months ended March 31,
 
  
2021
  
2020
 
  
(In thousands, except share
and per share data)
 
       
Net loss
 
$
(3,487
)
 
$
(33
)
Less net income attributable to participating securities
  
-
   
-
 
Net loss available to common stockholders
 
$
(3,487
)
 
$
(33
)
         
         
Weighted average common shares outstanding for basic earnings per common share
  
27,357,750
   
26,962,317
 
Add: dilutive effects of assumed exercises of stock options
  
-
   
-
 
Weighted average common shares outstanding for diluted earnings per common share
  
27,357,750
   
26,962,317
 
         
Loss per common share - basic
 
$
(0.13
)
 
$
(0.00
)
Loss per common share - diluted
 
$
(0.13
)
 
$
(0.00
)

Stock options for 450,000 shares of common stock for the three months ended March 31, 2021 and 2020 were not considered in computing diluted earnings per common share because they were anti-dilutive due to net loss.