| Summary of Earnings Per Share Basic and Diluted |
Shares held by the Employee Stock Ownership Plan ("ESOP") that have not been allocated to employees in accordance with the terms of the ESOP, referred to as "unallocated ESOP shares", are not deemed outstanding for EPS calculations.
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Three Months Ended December 31, |
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Nine Months Ended December 31, |
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2025 |
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2024 |
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2025 |
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2024 |
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(Income in thousands) |
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(Income in thousands) |
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Net income applicable to common shares |
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$ |
1,175 |
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$ |
951 |
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$ |
3,045 |
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$ |
2,806 |
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Average number of common shares outstanding |
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4,077,124 |
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4,147,426 |
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4,083,568 |
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4,136,372 |
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Less: Average unallocated ESOP shares |
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292,955 |
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306,179 |
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296,253 |
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309,477 |
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Average number of common shares outstanding used to calculate basic earnings per common share |
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3,784,169 |
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3,841,247 |
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3,787,315 |
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3,826,895 |
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Diluted potential common shares |
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24,877 |
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— |
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19,810 |
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— |
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Average number of common shares outstanding used to calculate diluted earnings per common share |
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3,809,046 |
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3,841,247 |
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3,807,125 |
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3,826,895 |
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Earnings per common share - basic |
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$ |
0.31 |
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$ |
0.25 |
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$ |
0.80 |
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$ |
0.73 |
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Earnings per common share - diluted |
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$ |
0.31 |
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$ |
0.25 |
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$ |
0.80 |
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$ |
0.73 |
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