EARNINGS PER SHARE

6 Months Ended

Dec. 31, 2016

EARNINGS PER SHARE:

EARNINGS PER SHARE

3. EARNINGS PER SHARE

The following table sets forth the computation of the weighted-average common shares used to calculate basic and diluted earnings per share.

	Three Months Ended						Six Months Ended
	December 31,						December 31,
	2016			2015			2016			2015
Weighted average common shares issued		3,805,636			3,805,636			3,805,636			3,805,636
Average treasury stock shares		(1,797,492	)		(1,766,507	)		(1,793,768	)		(1,766,429	)
Average unallocated ESOP shares		(127,058	)		(128,939	)		(133,245	)		(129,481	)
Weighted average common shares and common stock equivalents used to calculate basic earnings per share		1,881,086			1,910,190			1,878,623			1,909,726
Additional common stock equivalents (stock options) used to calculate diluted earnings per share		-			-			-			-
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share		1,881,086			1,910,190			1,878,623			1,909,726

There are no convertible securities that would affect the numerator in calculating basic and diluted earnings per share; therefore, net income as presented on the Consolidated Statement of Income is used.

At December 31, 2016, and 2015, there were 114,519 options outstanding with an exercise price of $16.20 which were anti-dilutive for the three and six month periods.