| Schedule of Reconciliation of Number of Shares Used in Calculation of Basic and Diluted Earnings Per Common Share |
The following table presents a reconciliation of the number of common shares used in the calculation of basic and diluted earnings per common share:
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For the Years Ended December 31, |
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2025 |
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2024 |
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2023 |
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(Dollars in thousands except share data) |
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Net income available to common stockholders |
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$ |
27,578 |
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$ |
10,334 |
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$ |
3,352 |
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Common shares outstanding for basic EPS: |
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Weighted average common shares outstanding |
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23,997,373 |
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23,819,684 |
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24,263,952 |
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Less: Weighted average unallocated Employee Stock
Ownership Plan (ESOP) shares |
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1,251,147 |
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1,385,030 |
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1,518,635 |
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Basic weighted average common shares outstanding |
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22,746,226 |
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22,434,654 |
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22,745,317 |
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Basic earnings per common share |
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$ |
1.21 |
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$ |
0.46 |
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$ |
0.15 |
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Potential dilutive common shares: |
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Add: Dilutive effect of restricted stock awards and stock options |
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314,443 |
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117,061 |
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76,996 |
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Diluted weighted average common shares outstanding |
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23,060,669 |
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22,551,715 |
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22,822,313 |
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Diluted earnings per common share |
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$ |
1.20 |
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$ |
0.46 |
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$ |
0.15 |
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