Note 6 - Earnings Per Share

6 Months Ended

Dec. 31, 2020

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

569

shares of restricted stock that were anti-dilutive for the

six

-month period ended

December 31, 2020.

There were

1,645

and

2,204

shares of restricted stock that were anti-dilutive for the

three

- and

six

-month periods ended

December 30, 2019.

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 ,
	2020		2019		2020		2019
Basic:
Net income available to common shareholders	$	2,507	$	1,440	$	4,908	$	2,943
Weighted average common shares outstanding		3,017,268		2,737,800		3,015,741		2,737,755
Basic income per share	$	0.83	$	0.53	$	1.63	$	1.07

Diluted:
Net income available to common shareholders	$	2,507	$	1,440	$	4,908	$	2,943
Weighted average common shares outstanding		3,017,268		2,737,800		3,015,741		2,737,755
Dilutive effect of restricted stock		21		—		—		—
Total common shares and dilutive potential common shares		3,017,289		2,737,800		3,015,741		2,737,755
Dilutive income per share	$	0.83	$	0.53	$	1.63	$	1.07