For the three-month periods ended

September 30,

(dollars in thousands except per share data)

2022

2021

Net income

$

9,603

$

12,746

Less: distributed earnings allocated to participating securities

(9)

(6)

Less: undistributed earnings allocated to participating securities

(34)

(39)

Net income available to common shareholders

$

9,560

$

12,701

Weighted-average common shares outstanding, including participating securities

9,229,127

8,898,994

Less: weighted-average participating securities outstanding (restricted shares)

(41,270)

(31,845)

Denominator for basic earnings per share -

Weighted-average shares outstanding

9,187,857

8,867,149

Effect of dilutive securities stock options or awards

22,610

10,173

Denominator for diluted earnings per share

9,210,467

8,877,322

Basic earnings per share available to common stockholders

$

1.04

$

1.43

Diluted earnings per share available to common stockholders

$

1.04

$

1.43