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

2,062

shares of restricted stock that were anti-dilutive for the

three

and

six

months ended

December 31, 2017.

There were

equity instruments that were anti-dilutive for the

three

and

six

months ended

December 31, 2016.

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,
	2017		2016		2017		2016
Basic:
Net income available to common shareholders	$	657	$	722	$	1,586	$	1,623
Weighted average common shares outstanding		2,727,666		2,724,061		2,725,859		2,723,988
Basic income per share	$	0.24	$	0.27	$	0.58	$	0.60

Diluted:
Net income available to common shareholders	$	657	$	722	$	1,586	$	1,623
Weighted average common shares outstanding		2,727,666		2,724,061		2,725,859		2,723,988
Dilutive effect of restricted stock		—		19		—		13
Total common shares and dilutive potential common shares		2,727,666		2,724,080		2,725,859		2,724,001
Dilutive income per share	$	0.24	$	0.27	$	0.58	$	0.60