The following table shows the calculation of basic and diluted earnings (loss) per share and the weighted average number of shares outstanding used in computing earnings per share and the effect on the weighted average number of shares outstanding of dilutive potential common stock. Basic earnings per share amounts are computed by dividing net income (loss) (the numerator) by the weighted average number of common shares outstanding (the denominator). Diluted earnings per share amounts assume the conversion, exercise, or issuance of all potential common stock instruments, unless the effect is to reduce the loss or increase earnings per common share. Potential dilutive common stock instruments include exercisable stock options and restricted shares. For the year ended December 31, 2018, 86,284 options were not included in computed diluted earnings per share because their effects would have been anti-dilutive. For the year ended December 31, 2017, 251,026 options and 10,500 restricted shares were not included in computing diluted earnings per share because their effects would have been anti-dilutive.

For both computations, the weighted average number of ESOP shares not committed to be released to participant accounts in the ESOP are not assumed to be outstanding. The weighted average ESOP shares excluded from the computation were 154,410 and 117,248 for the years ended December 31, 2018 and 2017, respectively.

	For the Year Ended
	December 31,
	2018		2017
Net income (loss)	$	3,878	$	(1,272	)
Weighted average shares outstanding, basic		13,057,537		9,399,223
Dilutive shares:
Stock options		57,044		—
Restricted shares		7,555		—
Weighted average shares outstanding, dilutive		13,122,136		9,399,223
Basic and diluted earnings (loss) per share	$	0.30	$	(0.14	)