Earnings Per Share

3 Months Ended

Sep. 30, 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. There were no equity instruments there were anti-dilutive for the three month periods ended September 30, 2015 and 2014. The following table details the calculation of basic and diluted earnings per share:

	For the Three Months
	Ended September 30,
	2015		2014
Basic:
Net income available to common shareholders	$	727	$	756
Weighted average common shares outstanding		2,724,372		2,721,695
Basic income per share	$	0.27	$	0.28
Diluted:
Net income available to common shareholders	$	727	$	756
Weighted average common shares outstanding		2,724,372		2,721,695
Dilutive effect of restricted stock		189		418
Total common shares and dilutive potential common shares		2,724,561		2,722,113
Dilutive income per share	$	0.27	$	0.28