Stock Based Compensation (Tables)

6 Months Ended

Dec. 31, 2013

Stock Based Compensation Tables

Schedule of weighted average assumptions for option awards

The table below outlines the weighted average assumptions that the Company used to calculate the fair value of the option award for the six-months ended December 31, 2013.  

	December 31, 2013
Dividend yield		3.67%
Expected stock price volatility		25.31%
Risk-free interest rate		1.23%
Expected option life (in years)		3.8 yrs
Weighted average fair value per share of options granted during the period	$	3.777

Schedule of stock option activity

The following table summarizes stock option activity during the six-months ended December 31, 2013:

	Employee Stock Options Plan
						Weighted
	Number of			Weighted		Average
	Shares			Average		Remaining		Aggregate
	Subject			Exercise		Contractual		Intrinsic
	To Option			Price		Term		Value
Balance at July 1, 2013		159,250		$	21.12		6.30
Granted		31,600		$	27.22		9.64
Exercised		(11,120	)	$	19.38		—
Forfeited or expired		—			—		—
Outstanding at December 31, 2013		179,730		$	22.30		6.49	$	1,858,401
Vested or expected to vest at December 31, 2013		171,734		$	22.12		6.37	$	1,806,917
Exercisable at December 31, 2013		118,780		$	20.28		5.18	$	1,468,178

Schedule of changes in non-vested stock options

The following table summarizes changes in non-vested stock options during the three-months ended December 31, 2013:

	Weighted Number			Average Grant
	of Shares			Date Fair
	Subject to Option			Value (per Option)
Non-Vested at July 1, 2013		57,950		$	4.321
Granted		31,600		$	3.777
Vested		(28,600	)	$	4.757
Forfeited or expired		—			—
Non-Vested at December 31, 2013		60,950		$	3.834