Note 5 - Earnings Per Share

6 Months Ended

Dec. 31, 2016

Notes to Financial Statements

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

and

six

months ended

December

31,

2016

and

2015.

The following table details the calculation of basic and diluted earnings per share:

	For the Three Months Ended December 31,				For the Six Months Ended December 31,
	2016		2015		2016		2015
Basic:
Net income available to common shareholders	$	722	$	639	$	1,623	$	1,366
Weighted average common shares outstanding		2,724,061		2,724,774		2,723,988		2,724,573
Basic income per share	$	0.27	$	0.23	$	0.60	$	0.50
Diluted:
Net income available to common shareholders	$	722	$	639	$	1,623	$	1,366
Weighted average common shares outstanding		2,724,061		2,724,774		2,723,988		2,724,573
Dilutive effect of restricted stock		19		157		13		173
Total common shares and dilutive potential common shares		2,724,080		2,724,931		2,724,001		2,724,746
Dilutive income per share	$	0.27	$	0.23	$	0.60	$	0.50