Note

– 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

nine

months ended

March

31,

2017

and

2016.

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,
	2017		2016		2017		2016
Basic:
Net income available to common shareholders	$	566	$	708	$	2,189	$	2,074
Weighted average common shares outstanding		2,724,418		2,725,543		2,724,132		2,724,992
Basic income per share	$	0.21	$	0.26	$	0.80	$	0.76

Diluted:
Net income available to common shareholders	$	566	$	708	$	2,189	$	2,074
Weighted average common shares outstanding		2,724,418		2,725,543		2,724,132		2,724,992
Dilutive effect of restricted stock		30		83		25		137
Total common shares and dilutive potential common shares		2,724,448		2,725,626		2,724,157		2,725,129
Dilutive income per share	$	0.21	$	0.26	$	0.80	$	0.76