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EARNINGS (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2025

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

NOTE 2. EARNINGS (LOSS) PER SHARE

Earnings (loss) per common share was computed based on the following:


		Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands, except per share data)		2025			2024			2025			2024
Numerator
Net income (loss) available to common shareholders		$	489		$	447		$	1,596		$	(3,715)

Denominator
Weighted average common shares outstanding			4,138			4,439			4,183			4,537
Weighted average unallocated common stock held by benefit plans			(501)			(546)			(510)			(555)
Weighted average shares - basic			3,637			3,893			3,673			3,982
Effect of dilutive stock-based awards⁽¹⁾:
Stock options			-			-			-			-
Restricted stock			21			12			11			-
Weighted average shares - assuming dilution			3,658			3,905			3,684			3,982

Basic earnings (loss) per common share		$	0.13		$	0.11		$	0.43		$	(0.93)
Diluted earnings (loss) per common share			0.13			0.11			0.43			(0.93)

(1)	The computation of diluted earnings (loss) per common share for the nine months ended September 30, 2024 does not include the impact of dilutive stock-based awards because to do so would be antidilutive for a period with a net loss.

Diluted earnings per share was computed using the treasury stock method. The weighted average of potentially dilutive common shares attributable to outstanding stock options that were anti-dilutive totaled 353,250 and 294,573 for the three months ended September 30, 2025 and 2024, respectively, and were excluded from the calculation of diluted earnings per share. The weighted average of potentially dilutive common shares attributable to restricted stock that were anti-dilutive totaled 326 for the three months ended September 30, 2025 and 2024, respectively, and were excluded from the calculation of diluted earnings per share.

The weighted average of potentially dilutive common shares attributable to outstanding stock options that were anti-dilutive totaled 319,150 and 294,647 for the nine months ended September 30, 2025 and 2024, respectively, and were excluded from the calculation of diluted earnings per share. The weighted average of potentially dilutive common shares attributable to restricted stock that were anti-dilutive totaled 2,120 and 537 for the nine months ended September 30, 2025 and 2024, respectively, and were excluded from the calculation of diluted earnings per share.