Earnings Per Share

3 Months Ended

Sep. 30, 2023

Earnings Per Share

Earnings Per Share

Note 7:  Earnings Per Share

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

	Three months ended
	September 30,
(dollars in thousands except per share data)	2023		2022
Net income	$	13,151	$	9,603
Less: distributed earnings allocated to participating securities		(10)		(9)
Less: undistributed earnings allocated to participating securities		(47)		(34)
Net income available to common shareholders	$	13,094	$	9,560
Denominator for basic earnings per share -
Weighted-average shares outstanding		11,286,012		9,187,857
Effect of dilutive securities stock options or awards		11,803		22,610
Denominator for diluted earnings per share		11,297,815		9,210,467
Basic earnings per share available to common stockholders	$	1.16	$	1.04
Diluted earnings per share available to common stockholders	$	1.16	$	1.04

Certain option and restricted stock awards were excluded from the computation of diluted earnings per share because they were anti-dilutive, based on the average market prices of the Company’s common stock for these periods. Outstanding options and shares of restricted stock totaling 63,706 and 57,250 were excluded from the computation of diluted earnings per share for each of the three-month periods ended September 30, 2023 and 2022, respectively.