Earnings Per Share

12 Months Ended

Jun. 30, 2020

Earnings Per Share

Earnings Per Share

NOTE 16: Earnings Per Share

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

	Year Ended June 30,
(dollars in thousands except per share data)	2020		2019		2018
Net income	$	27,545	$	28,904	$	20,929
Denominator for basic earnings per share -
Weighted-average shares outstanding		9,189,876		9,193,235		8,734,334
Effect of dilutive securities stock options or awards		9,293		10,674		11,188
Denominator for diluted earnings per share		9,199,169		9,203,909		8,745,522
Basic earnings per share available to common stockholders	$	3.00	$	3.14	$	2.40
Diluted earnings per share available to common stockholders	$	2.99	$	3.14	$	2.39

Options outstanding at June 30, 2020, 2019, and 2018, to purchase 50,500, 31,000, and 13,500 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each year periods because the exercise prices of such options were greater than the average market prices of the common stock for the respective fiscal year.