Earnings Per Share

6 Months Ended

Dec. 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.  There were no equity instruments that were anti-dilutive for the three month periods ended December 31, 2015 and 2014. The following table details the calculation of basic and diluted earnings per share:

	For the Three Months				For the Six Months
	Ended December 31,				Ended December 31,
	2015		2014		2015		2014
Basic:
Net income available to common shareholders	$	639	$	808	$	1,366	$	1,564
Weighted average common shares outstanding		2,724,774		2,728,686		2,724,573		2,728,114
Basic income per share	$	0.23	$	0.30	$	0.50	$	0.57
Diluted:
Net income available to common shareholders	$	639	$	808	$	1,366	$	1,564
Weighted average common shares outstanding		2,724,774		2,728,686		2,724,573		2,728,114
Dilutive effect of restricted stock		157		271		173		342
Total common shares and dilutive potential common shares		2,724,931		2,728,957		2,724,746		2,728,456
Dilutive income per share	$	0.23	$	0.30	$	0.50	$	0.57