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Earnings Per Share
 3 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Earnings Per Share
3.
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 (which was only 11 days for the three months ended September 30, 2023). Unallocated ESOP shares are not deemed outstanding for earnings per share calculations. There were no potentially dilutive common stock equivalents for the three months ended September 30, 2023. Earnings per share data is not applicable for the three months ended September 30, 2022 because the Company had not yet been formed and had no shares outstanding.

The following table presents the factors used in the earnings per share calculation:

 

 

Three Months Ended

 

Basic and diluted

 

September 30, 2023

 

Net loss

 

 

(10,498

)

Weighted average number of common shares outstanding

 

 

1,136,818

 

Less: Average unallocated ESOP shares

 

 

(90,566

)

Weighted average number of common shares outstanding, net

 

 

1,046,251

 

Basic and diluted earnings per common share

 

$

(10.03

)