EARNINGS PER SHARE

12 Months Ended

Jun. 30, 2015

Note 14 – 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 year Ended June 30,
	2015		2014
Basic:
Net income available to common shareholders	$	2,958	$	2,837
Weighted average common shares outstanding		2,726,304		2,701,614
Basic income per share	$	1.09	$	1.05

Diluted:
Net income available to common shareholders	$	2,958	$	2,837
Weighted average common shares outstanding		2,726,304		2,701,614
Dilutive effect of restricted stock		273		392
Total common shares and dilutive potential common shares		2,726,577		2,702,006
Dilutive income per share	$	1.08	$	1.05