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Earnings per Share
6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Earnings per Share

Note 8: Earnings per Share

The following table shows the weighted average number of shares used in computing earnings per share and the effect on the weighted average number of shares of dilutive potential common stock. Basic earnings per share amounts are computed by dividing net income (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. For both computations, the weighted average number of employee stock ownership plan (“ESOP”) shares not committed to be released to participant accounts are not assumed to be outstanding. The weighted average ESOP shares excluded from the computation were 204,675 and 207,462 for the three and six months ended June 30, 2019, respectively. The weighted average ESOP shares excluded from the computation were 154,410 and 157,885 for the three and six months ended June 30, 2018, respectively. For the three months ended June 30, 2019 and 2018, options on 76,784 and 96,415 shares, respectively, were not included in computing diluted earnings per share because their effects would have been anti-dilutive. For the six months ended June 30, 2019 and 2018, options on 76,784 and 96,415 shares, respectively, were not included in computing diluted earnings per share because their effects would have been anti-dilutive.

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Net income

 

$

1,723

 

 

$

946

 

 

$

3,215

 

 

$

2,070

 

Weighted average shares outstanding, basic

 

 

13,059,824

 

 

 

13,059,604

 

 

 

13,030,528

 

 

 

13,049,142

 

Dilutive shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

32,425

 

 

 

62,081

 

 

 

33,189

 

 

 

67,484

 

Restricted stock

 

 

12,694

 

 

 

4,734

 

 

 

7,087

 

 

 

5,021

 

Weighted average shares outstanding, dilutive

 

 

13,104,943

 

 

 

13,126,419

 

 

 

13,070,804

 

 

 

13,121,647

 

Basic and diluted earnings per share

 

$

0.13

 

 

$

0.07

 

 

$

0.25

 

 

$

0.16