Note 4 - Earnings Per Share

9 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

4. 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						Nine Months Ended
	March 31,						March 31,
	2022			2021			2022			2021
Weighted average common shares outstanding		3,805,636			3,805,636			3,805,636			3,805,636
Average treasury stock shares		(1,923,257	)		(1,902,946	)		(1,922,092	)		(1,902,562	)
Average unallocated ESOP shares		(140,933	)		(150,841	)		(143,427	)		(153,335	)
Weighted average common shares and common stock equivalents used to calculate basic earnings per share		1,741,446			1,751,849			1,740,117			1,749,739
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share		1,741,446			1,751,849			1,740,117			1,749,739

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.

The unallocated shares controlled by the ESOP are not considered in the weighted-average shares outstanding until the shares are committed for allocation to an employee’s individual account.