EARNINGS PER SHARE CALCULATION

9 Months Ended

Mar. 31, 2025

Basic earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted earnings per share, applicable only to years ended with reported income is computed by dividing net income by the weighted average number of common shares outstanding during the period plus the dilutive effect of outstanding stock options and restricted stock-based awards using the treasury stock method. The calculation of basic and diluted earnings per share is presented below:


	Three months ended March 31,
($ in thousands, except per share data)	2025		2024

Numerator for basic and diluted earnings per share
Net income	$	49,156	4,656
Preferred dividends	(289)		(289)
Net income applicable to common shareholders	$	48,867	$	4,367

Denominator for basic earnings per share - Weighted average shares outstanding	73,169,131		72,851,498
Effect of dilutive potential common shares	1,585,287		1,216,939
Denominator for diluted earnings per share - Adjusted weighted average shares outstanding	74,754,418		74,068,437

Basic earnings per share	$	0.67	$	0.06
Diluted earnings per share	$	0.65	$	0.06


	Nine months ended March 31,
($ in thousands, except per share data)	2025		2024

Numerator for basic and diluted earnings per share
Net income	$	57,702	9,787
Preferred dividends	(578)		(578)
Net income applicable to common shareholders	$	57,124	$	9,209

Denominator for basic earnings per share - Weighted average shares outstanding	73,117,081		72,770,582
Effect of dilutive potential common shares	1,402,870		1,284,238
Denominator for diluted earnings per share - Adjusted weighted average shares outstanding	74,519,951		74,054,820

Basic earnings per share	$	0.78	$	0.13
Diluted earnings per share	$	0.77	$	0.12

Potentially anti-dilutive shares excluded from the calculation of diluted earnings per share were approximately 0.8 million and 1.0 million for the nine months ended March 31, 2025 and 2024, respectively.