Earnings Per Share

9 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 5 – Earnings Per Share

Basic earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period and is equal to net income divided by the weighted average number of shares outstanding during the period.  Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares that may be issued upon the vesting of restricted stock awards.  The following table details the calculation of basic and diluted earnings per share:

	For the Three Months Ended March 31,				For the Nine Months Ended March 31,
	2014		2013		2014		2013
Basic:
Net income available to common shareholders	$	678	$	628	$	2,054	$	1,990
Weighted average common shares outstanding		2,724,930		2,065,887		2,692,662		2,061,969
Basic income per share	$	0.25	$	0.30	$	0.76	$	0.96
Diluted:
Net income available to common shareholders	$	678	$	628	$	2,054	$	1,990
Weighted average common shares outstanding		2,724,930		2,065,887		2,692,662		2,061,969
Dilutive effect of restricted stock		492		595		356		541
Total common shares and dilutive potential common shares		2,725,422		2,066,482		2,693,018		2,062,510
Dilutive income per share	$	0.25	$	0.30	$	0.76	$	0.96