Westfield Financial Just Filed Its Quarterly Report: 2. EARNINGS PER SHAR...

2. EARNINGS PER SHARE 

 

Basic earnings per share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. If rights to dividends on unvested awards are non-forfeitable, these unvested awards are considered outstanding in the computation of basic earnings per share. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result fro m the assumed issuance. Potential common shares that may be issued by us relate to stock options and employee incentive plans and are determined using the treasury stock method. Unallocated ESOP shares are not deemed outstanding for earnings per share calculations. There were no anti-dilutive shares outstanding during the three and six months ended June 30, 2019 and 2018. 

 

Earnings per common share for the three and six months ended June 30, 2019 and 2018 have been computed based on the following: 

 

    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2019     2018     2019     2018  
    (In thousands, except per share data)  
                         
Net income applicable to common stock   $ 3,257     $ 5,138     $ 6,687     $ 8,657  
                                 
Average number of common shares issued     26,836       29,897       27,332       30,126  
Less: Average unallocated ESOP Shares     (678 )     (768 )     (689 )     (779 )
Less: Average unvested equity incentive plan shares     (111 )     (93 )     (104 )     (88 )
                                 
Average number of common shares outstanding used to calculate basic earnings per common share     26,047       29,036       26,539       29,259  
                                 
Effect of dilutive equity incentive plan     41       42       39       39  
Effect of dilutive stock options     72       100       75       100  
                                 
Average number of common shares outstanding used to calculate diluted earnings per common share     26,160       29,178       26,653       29,398  
                                 
Basic earnings per share   $ 0.13     $ 0.18     $ 0.25     $ 0.30  
Diluted earnings per share   $ 0.12     $ 0.18     $ 0.25     $ 0.29  

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

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Other recent filings from the company include the following:

Annual report of employee stock purchase, savings and similar plans - June 29, 2020
Westfield Financial director just picked up 215 shares - June 18, 2020
Westfield: Investor Presentation Materials Dated June 11, 2020 Western New England Bancorp, Inc. 8-K - June 11, 2020

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