EARNINGS PER SHARE CALCULATION

12 Months Ended

Jun. 30, 2025

The calculation of basic and diluted earnings per share is presented below:


	Year ended June 30,
($ in thousands, except share and per share data)	2025		2024		2023

Numerator for basic and diluted earnings per share
Net income	$	64,533	$	11,993	$	633
Preferred dividends	(578)		(578)		(623)
Net income available to common shareholders	$	63,955	$	11,415	$	10

Denominator for basic earnings per share - Weighted average shares outstanding	73,162,211		72,819,220		71,978,901
Effect of dilutive potential common shares	1,520,854		1,352,878		535,733
Denominator for diluted earnings per share - Adjusted weighted average shares outstanding	74,683,065		74,172,098		72,514,634

Basic earnings per share	$	0.87	$	0.16	$	—
Diluted earnings per share	$	0.86	$	0.15	$	—

Potentially anti-dilutive shares excluded from the calculation of diluted earnings per share were approximately 0.9 million, 0.0 million, and 4.2 million for the year ended June 30, 2025, 2024 and 2023, respectively.