Earnings Per Share

12 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic earnings per share (“EPS”) excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period.  Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the earnings of the Corporation.

As of June 30, 2013, 2012 and 2011, there were outstanding options to purchase 1.1 million shares, 1.2 million shares and 1.2 million shares of the Corporation’s common stock, respectively, of which 606,500 shares, 594,000 shares and 656,700 shares, respectively, were excluded from the diluted EPS computation as their effect was anti-dilutive. As of June 30, 2013, 2012 and 2011, there were outstanding restricted stock awards of 72,250 shares, 146,800 shares and 258,300 shares, respectively, with 800 shares and 12,800 shares at June 30, 2012 and 2011, respectively, excluded from the diluted EPS computation as their effect was anti-dilutive.

The following table provides the basic and diluted EPS computations for the fiscal years ended June 30, 2013, 2012 and 2011, respectively.

(Dollars in Thousands, Except Share Amount)		For the Year Ended June 30, 2013
		Income (Numerator)		Shares (Denominator)		Per-Share Amount
Basic EPS		$	25,797		10,601,145		$	2.43
Effect of dilutive shares:
	Stock options				160,861
	Restricted stock				73,194
Diluted EPS		$	25,797		10,835,200		$	2.38

(Dollars in Thousands, Except Share Amount)		For the Year Ended June 30, 2012
		Income (Numerator)		Shares (Denominator)		Per-Share Amount
Basic EPS		$	10,810		11,222,797		$	0.96
Effect of dilutive shares:
	Stock options				23,941
	Restricted stock				40,467
Diluted EPS		$	10,810		11,287,205		$	0.96

(Dollars in Thousands, Except Share Amount)		For the Year Ended June 30, 2011
		Income (Numerator)		Shares (Denominator)		Per-Share Amount
Basic EPS		$	13,220		11,389,106		$	1.16
Effect of dilutive shares:
	Stock options				554
	Restricted stock				25,881
Diluted EPS		$	13,220		11,415,541		$	1.16