EARNINGS PER SHARE (EPS)

3 Months Ended

Dec. 31, 2023

Basic EPS was calculated by dividing income available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted EPS was calculated by dividing income available to common shareholders by the weighted average number of shares of common stock outstanding plus additional common shares that could be issued in connection with stock-based compensation.

The following table is a reconciliation of the share amounts (in thousands) used in computing earnings per share:


	Three Months Ended December 31,
		2023	2022
Common shares outstanding		51,386	57,186
Unallocated ESOP shares		(154)	(979)
Non-vested restricted stock		(2,783)	(3,230)
Impact of weighted average shares		335	(398)
Weighted average shares outstanding - basic		48,784	52,579
Incremental shares from stock-based compensation		2,683	2,719
Weighted average shares outstanding - diluted		51,467	55,298

Shares of the ESOP that have been allocated to employee accounts are treated as outstanding in determining earnings per share.