Earnings Per Share

3 Months Ended

Sep. 30, 2021

Earnings Per Share

Earnings Per Share

Note 3 - Earnings Per Share

The following table presents a calculation of basic and diluted earnings per share for the three months ended September 30, 2021 and 2020. Earnings per share is computed by dividing net income available to common Stockholders by the weighted average number of shares of common stock outstanding. There are no convertible securities which would affect the numerator in calculating basic and diluted earnings per share; therefore, the net income of $1.2 million and $670 thousand for the three months ended September 30, 2021 and, 2020, respectively, was used as the numerator.

The following table sets forth the composition of the weighted average common shares (denominator) used in the basic and diluted earnings per share computation.  

	Three Months Ended
	September 30,
(Dollars in thousands, except share and per share amounts)	2021		2020
Weighted-average common shares and common stock equivalents used to calculate basic and diluted earnings per share		14,301,956		14,628,530
Net income	$	1,160	$	670
Basic and diluted earnings per share	$	0.08	$	0.05