Earnings Per Share

12 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

Note 13: 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, 2019 and 2018, there were outstanding options to purchase 570,750 shares and 529,000 shares of the Corporation’s common stock, respectively, and no shares and 20,000 shares, respectively, were excluded from the diluted EPS computation as their effect was anti-dilutive.  As of June 30, 2019 and 2018, there were outstanding restricted stock awards of 233,500 shares and 98,500 shares, respectively.

The following table provides the basic and diluted EPS computations for the fiscal years ended June 30, 2019 and 2018, respectively:

(Dollars in Thousands, Except Share Amount)		For the Year Ended June 30, 2019
		Income (Numerator)		Shares (Denominator)		Per-Share Amount
Basic EPS		$	4,417		7,484,925		$	0.59
Effect of dilutive shares:
	Stock options				95,960
	Restricted stock				15,383
Diluted EPS		$	4,417		7,596,268		$	0.58

(Dollars in Thousands, Except Share Amount)		For the Year Ended June 30, 2018
		Income (Numerator)		Shares (Denominator)		Per-Share Amount
Basic EPS		$	2,131		7,542,071		$	0.28
Effect of dilutive shares:
	Stock options				104,796
	Restricted stock				53,504
Diluted EPS		$	2,131		7,700,371		$	0.28