Note 15 - Earnings Per Share

9 Months Ended

12 Months Ended

Mar. 31, 2019

Jun. 30, 2018

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

7,121

and

999

shares of restricted stock that were anti-dilutive for the

three

-and

nine

-month periods ended

March 31, 2019,

respectively. There were

1,805

and

1,976

shares of restricted stock that were anti-dilutive for the

three

-and

nine

-month periods ended

March 31, 2018,

respectively. 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,
	2019		2018		2019		2018
Basic:
Net income available to common shareholders	$	1,035	$	913	$	4,557	$	2,499
Weighted average common shares outstanding		2,730,376		2,727,837		2,730,887		2,726,538
Basic income per share	$	0.38	$	0.33	$	1.67	$	0.92
Diluted:
Net income available to common shareholders	$	1,035	$	913	$	4,557	$	2,499
Weighted average common shares outstanding		2,730,429		2,727,837		2,730,850		2,726,538
Dilutive effect of restricted stock		—		—		—		—
Total common shares and dilutive potential common shares		2,730,429		2,727,837		2,730,850		2,726,538
Dilutive income per share	$	0.38	$	0.33	$	1.67	$	0.92

NOTE

15–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

1,828

shares of restricted stock that were anti-dilutive for the year ending

June 30, 2018.

There were

no

equity instruments that were anti-dilutive for the year ending

June 30, 2017.

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

	For the year Ended June 30,
	2018		2017
Basic:
Net income available to common shareholders	$	3,581	$	2,994
Weighted average common shares outstanding		2,726,926		2,724,293
Basic income per share	$	1.31	$	1.10
Diluted:
Net income available to common shareholders	$	3,581	$	2,994
Weighted average common shares outstanding		2,726,926		2,724,293
Dilutive effect of restricted stock		—		32
Total common shares and dilutive potential common shares		2,726,926		2,724,325
Dilutive income per share	$	1.31	$	1.10