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EARNINGS PER SHARE | 6 Months Ended
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Sep. 30, 2018
Earnings Per Share [Abstract] |
EARNINGS PER SHARE |
5. | EARNINGS PER SHARE
Basic earnings per share ("EPS") is computed by dividing net income or loss applicable to common stock by the weighted average number of common shares outstanding during the period, without considering any dilutive items. Diluted EPS is computed by dividing net income or loss applicable to common stock by the weighted average number of common shares and common stock equivalents for items that are dilutive, net of shares assumed to be repurchased using the treasury stock method at the average share price for the Company's common stock during the period. Common stock equivalents arise from the assumed exercise of outstanding stock options. Shares owned by the Company's ESOP that have not been allocated are not considered to be outstanding for the purpose of computing basic and diluted EPS. As of September 30, 2018, all shares under the Company's ESOP were allocated. As of September 30, 2017, there were 24,633 shares which had not been allocated under the Company's ESOP. For the three and six months ended September 30, 2018, there were no stock options excluded in computing diluted EPS. For the three and six months ended September 30, 2017, stock options for 9,000 and 14,000 shares, respectively, of common stock were excluded in computing diluted EPS because they were antidilutive. The following table presents a reconciliation of the components used to compute basic and diluted EPS for the periods indicated:
|  | Three Months Ended September 30, |  |  | Six Months Ended September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Basic EPS computation: |  |  |  |  |  |  |  |  |  |  |  |
Numerator-net income |  | $ | 4,229,000 |  |  | $ | 3,059,000 |  |  | $ | 8,671,000 |  |  | $ | 5,713,000 |
Denominator-weighted average common shares outstanding |  |  | 22,579,839 |  |  |  | 22,518,941 |  |  |  | 22,575,009 |  |  |  | 22,511,935 |
Basic EPS |  | $ | 0.19 |  |  | $ | 0.14 |  |  | $ | 0.38 |  |  | $ | 0.25 |
Diluted EPS computation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator-net income |  | $ | 4,229,000 |  |  | $ | 3,059,000 |  |  | $ | 8,671,000 |  |  | $ | 5,713,000 |
Denominator-weighted average common shares outstanding |  |  | 22,579,839 |  |  |  | 22,518,941 |  |  |  | 22,575,009 |  |  |  | 22,511,935 |
Effect of dilutive stock options |  |  | 78,898 |  |  |  | 90,539 |  |  |  | 80,288 |  |  |  | 87,916 |
Weighted average common shares and common stock equivalents |  |  | 22,658,737 |  |  |  | 22,609,480 |  |  |  | 22,655,297 |  |  |  | 22,599,851 |
Diluted EPS |  | $ | 0.19 |  |  | $ | 0.14 |  |  | $ | 0.38 |  |  | $ | 0.25 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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