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STOCK BASED COMPENSATION (Tables)
 9 Months Ended
Mar. 31, 2013
STOCK BASED COMPENSATION  
Summary of stock option activity

 

 

 

Options

 

Weighted-
Average
Exercise
Price/Share

 

Weighted-
Average
Remaining
Contractual
Life (in years)

 

Aggregate
Intrinsic Value (1)

 

Outstanding - July 1, 2012

 

233,286

 

$

11.58

 

 

 

 

 

Granted

 

—

 

—

 

 

 

 

 

Exercised

 

—

 

—

 

 

 

 

 

Forfeited

 

—

 

—

 

 

 

 

 

Outstanding - March 31, 2013

 

233,286

 

$

11.58

 

9.08

 

$

914,481

 

Fully vested and exercisable at March 31, 2013

 

—

 

$

—

 

—

 

$

—

 

Expected to vest in future periods

 

233,286

 

 

 

 

 

 

 

Fully vested and expected to vest -March 31, 2013

 

233,286

 

$

11.58

 

9.08

 

$

914,481

 

 

(1)  Based on closing price of $15.50 per share on March 31, 2013.
Schedule of weighted-average assumptions used in the Black-Scholes option pricing model

 

Risk-free interest rate

 

1.54

%

Expected dividend yield

 

3.45

%

Expected stock volatility

 

15.3

 

Expected life (years)

 

8

 

Fair value

 

$

1.00

 
Summary of non-vested restricted stock activity

The following table summarizes non-vested restricted stock activity for the nine months ended March 31, 2013:

 

 

 

2013

 

Balance - beginning of year

 

87,092

 

Granted

 

—

 

Forfeited

 

—

 

Vested

 

—

 

Balance - end of period

 

87,092