Magyar Bancorp Just Filed Its Annual Report: 12. Earnings Per Sh...


12. Earnings Per Share


Basic income per share is calculated by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding for the period. The weighted average common shares outstanding include shares allocated to the Employee Stock Ownership Plan.


Diluted income per share is calculated by adjusting the weighted average common shares outstanding to reflect the potential dilution that could occur using the treasury stock method if securities or other contracts to issue common stock, such as stock options and unvested restricted stock, were exercised and converted into common stock. The resulting shares issued would share in the earnings of the Company. Shares issued and shares reacquired during the period are weighted for the portion of the period that they were outstanding. In periods of loss, dilution is not calculated and diluted loss per share is equal to basic loss per share.


The following tables illustrate the reconciliation of the numerators and denominators of the basic and diluted earnings per share (“EPS”) calculations.






For the Years Ended September 30,





2022




2021








Weighted




Per







Weighted




Per








average




share







average




share





Income




shares




Amount




Income




shares




Amount





(In thousands, except share and per share data)



Basic and diluted EPS


























Net income available to weighted average common shareholders



$


7,919





6,781,659




$


1.17




$


6,120





6,037,499




$


1.01


The above information was disclosed in a filing to the SEC. To see the filing, click here.

To receive a free e-mail notification whenever Magyar Bancorp makes a similar move, sign up!

Auto Refresh

Feedback