Three Months Ended

March 31,

2024

2023

(In thousands, except per share data)

Net income applicable to common stock

$

2,961

$

5,304

Average number of common shares issued

21,640

22,220

Less: Average unallocated ESOP Shares

(291

)

(367

)

Less: Average unvested performance-based equity incentive plan shares

(168

)

(154

)

Average number of common shares outstanding used to calculate basic earnings per common share

21,181

21,699

Effect of dilutive performance-based equity incentive plan shares

90

18

Average number of common shares outstanding used to calculate diluted earnings per common share

21,271

21,717

Basic earnings per share

$

0.14

$

0.24

Diluted earnings per share

$

0.14

$

0.24