Earnings Per Share

12 Months Ended

Jun. 30, 2024

Earnings Per Share

Earnings Per Share

Note 12: 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, 2024 and 2023, there were outstanding options to purchase 480,000 shares and 434,500 shares of the Corporation’s common stock, of which 382,000 shares and 434,500 shares, respectively, were excluded from the diluted EPS computation as their effect was anti-dilutive. As of June 30, 2024 and 2023, there were outstanding restricted stock awards of 176,650 shares and 51,000 shares, respectively.

The following table provides the basic and diluted EPS computations for the fiscal years ended June 30, 2024 and 2023, respectively:

	For the Year Ended June 30, 2024
	Income		Shares	Per-Share
(Dollars in Thousands, Except Share Amount)	(Numerator)		(Denominator)	Amount
Basic EPS	$	7,351	6,942,918	$	1.06
Effect of dilutive shares:
Stock options			76
Restricted stock			16,149
Diluted EPS	$	7,351	6,959,143	$	1.06

	For the Year Ended June 30, 2023
	Income		Shares	Per-Share
(Dollars in Thousands, Except Share Amount)	(Numerator)		(Denominator)	Amount
Basic EPS	$	8,592	7,143,273	$	1.20
Effect of dilutive shares:
Stock options			—
Restricted stock			48,412
Diluted EPS	$	8,592	7,191,685	$	1.19