Earnings Per Share

3 Months Ended

Mar. 31, 2024

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 March 31,
	2024		2023
Common shares outstanding at the beginning of the period	9,135,720		9,225,484
Weighted average number of net shares redeemed	(16,940)		(6,484)
Weighted average shares outstanding (basic)	9,118,780		9,219,000
Weighted average of potential dilutive shares attributable to stock options granted, computed under the treasury stock method	486		765
Weighted average number of shares (diluted)	9,119,266		9,219,765
Net income (In thousands)	$	12,100	$	12,462
Earnings per share:
Basic	$	1.33	$	1.35
Diluted	$	1.33	$	1.35