Note 17 - Earnings Per Share

12 Months Ended

Jun. 30, 2021

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

1,711

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

June 30, 2021.

There were

1,655

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

June 30, 2020.

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

	For the year Ended June 30,
	2021		2020
Basic:
Net income available to common shareholders	$	8,988	$	5,527
Weighted average common shares outstanding		3,019,118		2,874,234
Basic income per share	$	2.98	$	1.92

Diluted:
Net income available to common shareholders	$	8,988	$	5,527
Weighted average common shares outstanding		3,019,118		2,874,234
Dilutive effect of restricted stock		—		—
Total common shares and dilutive potential common shares		3,019,118		2,874,234
Dilutive income per share	$	2.98	$	1.92