EARNINGS PER SHARE

6 Months Ended

Dec. 31, 2020

13.EARNINGS PER SHARE

Basic earnings per share represent income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Unallocated ESOP shares are not deemed outstanding for earnings per share calculations. There were no potentially diluted common stock equivalents as of December 31, 2020 or December 31, 2019.


	For the Three Months Ended December 31,				For the Six Months Ended December 31,
	2020		2019		2020		2019
							(As Restated)
	(Dollars in thousands, except share and per share amounts)
Net income applicable to common stock	$	1,895		3,850	$	3,289	$	2,873

Average number of common shares outstanding		25,977,679		25,977,679		25,977,679		25,977,679
Less: Average unallocated ESOP shares		922,858		980,138		929,222		992,867
Average number of common shares outstanding used to calculate basic and diluted earnings per common share		25,054,821		24,997,541		25,048,457		24,984,812

Net earnings per common share:
Basic	$	0.08	$	0.15	$	0.13	$	0.12
Diluted	$	0.08	$	0.15	$	0.13	$	0.12