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Note 10 - Earnings Per Share | 3 Months Ended
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Mar. 31, 2024
Notes to Financial Statements |
Earnings Per Share [Text Block] | Note 10: Earnings Per Share Basic EPS represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common shares (such as stock options) were exercised or converted into additional common shares that should then share in the earnings of the entity. Diluted EPS is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding for the period, plus the effect of potential dilutive common share equivalents. There were no securities or other contracts that had a dilutive effect for the three months ended March 31, 2024 and 2023, and therefore the weighted average common shares outstanding used to calculate both basic and diluted EPS are the same. Shares held by the Employee Stock Ownership Plan ("ESOP") that have not been allocated to employees in accordance with the terms of the ESOP, referred to as "unallocated ESOP shares", are not deemed outstanding for EPS calculations.
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
|  | (Income in thousands) |
Net (loss) income applicable to common shares |  | $ | (246 | ) |  | $ | 170 |
Average number of common shares outstanding |  |  | 5,315,261 |  |  |  | 5,397,959 |
Less: Average unallocated ESOP shares |  |  | 388,229 |  |  |  | 408,026 |
Average number of common shares outstanding used to calculate basic earnings per common share |  |  | 4,927,032 |  |  |  | 4,989,933 |
(Loss) earnings income per common share basic and diluted |  | $ | (0.05 | ) |  | $ | 0.03 |
All unallocated ESOP shares have been excluded from the calculation of basic and diluted EPS. The computation of diluted earnings per share excludes certain outstanding stock options that were outstanding and anti-dilutive, since the Company was in a loss position or since the grant date fair value of these outstanding stock options exceeded the average market price of the Company's common stock.

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