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Earnings Per Share

3 Months Ended

Sep. 30, 2024

Earnings Per Share

Earnings Per Share

Note 3: Earnings Per Share

Basic earnings per share (“EPS”) excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the earnings of the Corporation.

As of September 30, 2024 and 2023, there were outstanding stock options to purchase 238,000 shares and 434,500 shares of the Corporation’s common stock, respectively. As of September 30, 2024 and 2023, there were 140,000 and 434,500

outstanding stock options, respectively, excluded from the diluted EPS computation as their effect was anti-dilutive. As of September 30, 2024 and 2023, there were outstanding restricted stock awards of 152,200 shares and 51,000 shares, respectively.

The following table provides the basic and diluted EPS computations for the quarters ended September 30, 2024 and 2023, respectively.

​

​	​	​	​	​	​	​
​	​	For the Quarter Ended
​	​	September 30,
(In Thousands, Except Earnings Per Share)		2024			2023
Numerator:	​	​	​	​	​	​
Net income – numerator for basic earnings per share and	​	​	​	​	​	​
diluted earnings per share - available to common	​	​	​	​	​	​
stockholders	​	$	1,900	​	$	1,762
​	​	​	​	​	​	​
Denominator:	​	​	​	​	​	​
Denominator for basic earnings per share:	​	​	​	​	​	​
Weighted-average shares	​		6,833	​		7,017
​	​	​	​	​	​	​
Less effect of dilutive shares:	​	​	​	​	​	​
Stock options	​		—	​		—
Restricted stock	​		30	​		10
​	​	​	​	​	​	​
Denominator for diluted earnings per share:	​	​	​	​	​	​
Adjusted weighted-average shares and assumed	​	​	​	​	​	​
conversions	​	​	6,863	​	​	7,027
​	​	​	​	​	​	​
Basic earnings per share		$	0.28		$	0.25
Diluted earnings per share		$	0.28		$	0.25

​

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-3

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