Earnings per Share

9 Months Ended

Mar. 31, 2015

Earnings per Share

Earnings per Share

Note 13.Earnings per Share

Amounts reported in earnings per share reflect earnings available to common stockholders for the period divided by the weighted average number of shares of common stock outstanding during the year.  Diluted earnings per share is calculated by dividing earnings available to common stockholders for the period by the sum of the weighted average common shares outstanding and the weighted average dilutive shares.

The following table presents a reconciliation of the components used to compute basic earnings per share for the three months and nine months ended March 31, 2015 and 2014:

	(Restated)				(Restated)
	For the three months ended				For the nine months ended
	March 31,				March 31,
	2015		2014		2015		2014
Weighted average common shares outstanding	3,087,784		3,069,672		3,080,962		3,063,490
Net income available to common stockholders	$	615,127	$	49,786	$	1,117,054	$	862,068
Basic earnings per share	$	0.20	$	0.02	$	0.36	$	0.28

The following table presents a reconciliation of the components used to compute diluted earnings per share for the three months and nine months ended March 31, 2015 and 2014:

	(Restated)				(Restated)
	For the three months ended				For the nine months ended
	March 31,				March 31,
	2015		2014		2015		2014
Weighted average common shares outstanding	3,087,784		3,069,672		3,080,962		3,063,490
Weighted average of net additional shares from restricted stock awards	41,094		37,344		39,971		39,381
Weighted average number of shares outstanding	3,128,878		3,107,016		3,120,933		3,102,871
Net income available to common stockholders	$	615,127	$	49,786	$	1,117,054	$	862,068
Diluted earnings per share	$	0.20	$	0.02	$	0.36	$	0.28