Note 8: Earnings Per Share

9 Months Ended

Mar. 31, 2020

Notes

Note 8: Earnings Per Share

Note 8:  Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

	Three months ended				Nine months ended
	March 31,				March 31,
		2020		2019		2020		2019
(dollars in thousands except per share data)
Net income available to common shareholders	$	5,099	$	7,094	$	20,644	$	21,348
Average Common shares – outstanding basic		9,197,370		9,323,348		9,210,559		9,152,181
Stock options under treasury stock method		7,422		7,539		10,848		11,076
Average Common shares – outstanding diluted		9,204,792		9,330,887		9,221,407		9,163,257
Basic earnings per common share	$	0.55	$	0.76	$	2.24	$	2.33
Diluted earnings per common share	$	0.55	$	0.76	$	2.24	$	2.33

Options outstanding at March 31, 2020 and 2019, to purchase 50,500 and 31,000 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the three

month periods because the exercise prices of such options were greater than the average market prices of the common stock for the three months ended March 31, 2020 and 2019, respectively.  Options outstanding at March 31, 2020 and 2019, to purchase 33,000 and 13,500 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the nine month periods because the exercise prices of such options were greater than the average market prices of the common stock for the nine months ended March 31, 2020 and 2019, respectively.