Note 6 - Earnings Per Share

9 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

6

–

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

3,622

shares of restricted stock that were anti-dilutive for the

nine

-month period ended

March 31, 2021. 

There were

1,786

and

2,863

shares of restricted stock that were anti-dilutive for the

three

- and

nine

-month periods ended

March 31, 2020,

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,
	2021		2020		2021		2020
Basic:
Net income available to common shareholders	$	2,116	$	1,018	$	7,024	$	3,961
Weighted average common shares outstanding		3,018,529		3,003,205		3,017,773		2,828,427
Basic income per share	$	0.70	$	0.34	$	2.33	$	1.40

(Dollars in thousands, except per share amounts)

Diluted:
Net income available to common shareholders	$	2,116	$	1,018	$	7,024	$	3,961
Weighted average common shares outstanding		3,018,529		3,003,205		3,017,773		2,828,427
Dilutive effect of restricted stock		320		—		—		—
Total common shares and dilutive potential common shares		3,018,849		3,003,205		3,017,773		2,828,427
Dilutive income per share	$	0.70	$	0.34	$	2.33	$	1.40