EARNINGS PER SHARE

6 Months Ended

Mar. 31, 2022

NOTE D - EARNINGS PER SHARE

The following table presents a calculation of basic and diluted earnings per share for the three and six months ended March 31, 2022 and 2021. Basic and diluted earnings per share were calculated by dividing net income by the weighted- average number of shares outstanding for the periods. As a result of the second-step conversion completed on July 14, 2021, the previously reported number of shares for the year ended March 31, 2021 were adjusted to reflect the 1.2213 exchange ratio for comparative purposes.

Table of Contents

	Three Months Ended March 31,
			2022						2021
			Weighted		Per				Weighted		Per
			average		share				average		share
	Income		shares		Amount		Income		shares		Amount
	(Dollars in thousands, except share and per share data)
Basic and diluted EPS
Net income available to weighted
average common shareholders	$	1,679		6,796,566	$	0.25	$	1,506		7,096,664	$	0.21

	Six Months Ended March 31,
			2022						2021
			Weighted		Per				Weighted		Per
			average		share				average		share
	Income		shares		Amount		Income		shares		Amount
	(Dollars in thousands, except share and per share data)
Basic and diluted EPS
Net income available to weighted
average common shareholders	$	3,372		6,796,598	$	0.50	$	2,843		7,096,664	$	0.40

There were no outstanding stock awards or options to purchase common stock at March 31, 2022 and 2021.