Note 2 – Earnings Per Share

Basic earnings per share is computed by dividing the net income by the weighted-average number of common shares outstanding during the period, including allocated and committed to be released ESOP shares and restricted stock awards granted during the applicable period. Diluted earnings per share is computed using the weighted-average number of shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method.

The following table presents a reconciliation of the number of shares used in the calculation of basic and diluted earnings per common share:

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There were no antidilutive restricted awards for the three months ended March 31, 2026. Nonvested restricted stock awards for 21,493 shares of common stock were not considered in computing diluted earnings per share for the three months ended March 31, 2025, because they were antidilutive. There were no antidilutive stock options for the three months ended March 31, 2026. Stock options for 35,838 shares of common stock have vested, however, were not considered in computing diluted earnings per share for the three months ended March 31, 2025, because they were antidilutive.