Earnings Per Share

9 Months Ended

Mar. 31, 2015

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,
	2015		2014		2015		2014
Basic:
Net income available to common shareholders	$	632	$	678	$	2,196	$	2,054
Weighted average common shares outstanding		2,728,083		2,724,930		2,728,545		2,692,662
Basic income per share	$	0.23	$	0.25	$	0.80	$	0.76
Diluted:
Net income available to common shareholders	$	632	$	678	$	2,196	$	2,054
Weighted average common shares outstanding		2,728,083		2,724,930		2,728,545		2,692,662
Dilutive effect of restricted stock		217		492		302		356
Total common shares and dilutive potential common shares		2,728,300		2,725,422		2,728,847		2,693,018
Dilutive income per share	$	0.23	$	0.25	$	0.80	$	0.76