Earnings Per Share

6 Months Ended

Jun. 30, 2022

Basic earnings per share is computed using the weighted average number of actual common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that would occur from the exercise of common stock options outstanding. ESOP shares are considered outstanding for this calculation unless unearned.

The computation of basic and diluted earnings per share for the periods presented is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021			2022		2021
Common shares outstanding at the beginning of the period	9,277,145		9,312,518			9,299,640		9,330,995
Weighted average number of net shares redeemed	(5,420)		(3,315)			(18,484)		(15,711)
Weighted average shares outstanding (basic)	9,271,725		9,309,203			9,281,156		9,315,284
Weighted average of potential dilutive shares attributable to stock options granted, computed under the treasury stock method	1,581		3,567			2,348		3,546
Weighted average number of shares (diluted)	9,273,306		9,312,770			9,283,504		9,318,830
Net income (In thousands)	$	11,326	$	13,610		$	21,978	$	28,807
Earnings per share:
Basic	$	1.22	$	1.46		$	2.37	$	3.09
Diluted	$	1.22	$	1.46		$	2.37	$	3.09