| Earnings Per Share [Text Block] |
Note 8 - Earnings (Loss) per Common Share
The two-class method is used for computing basic and diluted earnings per share. Under the two-class method, EPS is determined for each class of common stock and participating security according to dividends declared and participating rights in undistributed earnings. The Company has issued restricted shares under share-based compensation plans which qualify as participating securities.
The following table presents a reconciliation of the components used to compute basic and diluted earnings per share for the periods shown:
| |
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| |
|
(In thousands, except share data) |
|
|
|
|
|
|
|
|
|
| Net income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) available to common shareholders |
|
$ |
3,661 |
|
|
$ |
(2,219 |
) |
|
$ |
(5,375 |
) |
|
$ |
(1,823 |
) |
| Dividends and undistributed earnings allocated to participating securities |
|
|
— |
|
|
|
(2 |
) |
|
|
— |
|
|
|
(3 |
) |
| Earnings (loss) allocated to common shareholders |
|
$ |
3,661 |
|
|
$ |
(2,221 |
) |
|
$ |
(5,375 |
) |
|
$ |
(1,826 |
) |
| Basic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average common shares outstanding |
|
|
9,443,024 |
|
|
|
9,448,958 |
|
|
|
9,412,164 |
|
|
|
9,495,759 |
|
| Weighted average unvested restricted stock awards |
|
|
(152,707 |
) |
|
|
(105,628 |
) |
|
|
(132,955 |
) |
|
|
(99,199 |
) |
| Weighted average unallocated ESOP shares |
|
|
(507,282 |
) |
|
|
(560,244 |
) |
|
|
(513,874 |
) |
|
|
(566,873 |
) |
| Total basic weighted average common shares outstanding |
|
|
8,783,035 |
|
|
|
8,783,086 |
|
|
|
8,765,335 |
|
|
|
8,829,687 |
|
| Diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic weighted average common shares outstanding |
|
|
8,783,035 |
|
|
|
8,783,086 |
|
|
|
8,765,335 |
|
|
|
8,829,687 |
|
| Dilutive restricted stock awards |
|
|
8,443 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total diluted weighted average common shares outstanding |
|
|
8,791,478 |
|
|
|
8,783,086 |
|
|
|
8,765,335 |
|
|
|
8,829,687 |
|
| Basic earnings (loss) per common share |
|
$ |
0.42 |
|
|
$ |
(0.25 |
) |
|
$ |
(0.61 |
) |
|
$ |
(0.21 |
) |
| Diluted earnings (loss) per common share |
|
$ |
0.42 |
|
|
$ |
(0.25 |
) |
|
$ |
(0.61 |
) |
|
$ |
(0.21 |
) |
Potentially dilutive shares are excluded from the computation of EPS if their effect is anti-dilutive. At June 30, 2025 and 2024, antidilutive shares as calculated under the treasury stock method totaled 23,270 and 21,965, respectively.
|