Earnings Per Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share

Earnings Per Share

11. Earnings Per Share

The factors used in the earning per share computation follow (dollars in thousands, except per share data):

	Three Months Ended		Three Months Ended		Six Months Ended		Six Months Ended
	June 30,		June 30,		June 30,		June 30,
	2023		2022		2023		2022
Net income	$	588	$	347	$	997	$	592
Weighted average common shares outstanding		2,688,570		2,777,250		2,709,793		2,777,250
Less: Average unearned ESOP shares		(199,962)		(211,071)		(199,962)		(211,071)
Weighted average shares outstanding (basic)		2,488,608		2,566,179		2,509,831		2,566,179
Dilutive common stock equivalents		14,369		—		14,951		—
Weighted average shares outstanding (diluted)		2,502,977		2,566,179		2,524,782		2,566,179
Basic earnings per common share	$	0.24	$	0.14	$	0.40	$	0.23
Diluted earnings per common share	$	0.23	$	0.14	$	0.39	$	0.23