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EARNINGS PER SHARE
 9 Months Ended
Mar. 31, 2022
EARNINGS PER SHARE  
EARNINGS PER SHARE

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 March 31, 2022 or March 31, 2021.

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For the Three Months Ended March 31, 

    

For the Nine Months Ended March 31, 

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2022

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2021

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2022

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2021

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(Dollars in thousands, except share and per share amounts)

Net income applicable to common stock

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$

302

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1,341

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$

7,916

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$

4,630

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Average number of common shares outstanding

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25,977,679

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25,977,679

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25,977,679

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25,977,679

Less: Average unallocated ESOP shares

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859,212

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910,129

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865,577

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916,493

Average number of common shares outstanding used to calculate basic and diluted earnings per common share

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25,118,467

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25,067,550

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25,112,102

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25,061,186

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Net earnings per common share:

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Basic

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$

0.01

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$

0.05

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$

0.31

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$

0.18

Diluted

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$

0.01

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$

0.05

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$

0.31

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$

0.18

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