| Earnings Per Share |
Earnings Per Share 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 | |
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