Earnings Per Share

12 Months Ended

Jun. 30, 2024

Earnings Per Share

Earnings Per Share

NOTE 13: Earnings Per Share

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

	June 30,
(dollars in thousands except per share data)	2024		2023		2022
Net income	$	50,182	$	39,237	$	47,169
Less: distributed earnings allocated to participating securities		(49)		(42)		(30)
Less: undistributed earnings allocated to participating securities		(208)		(150)		(165)
Net income available to common shareholders	$	49,925	$	39,045	$	46,974
Denominator for basic earnings per share -
Weighted-average shares outstanding		11,292,634		10,124,766		8,994,022
Effect of dilutive securities stock options or awards		8,645		17,033		17,122
Denominator for diluted earnings per share		11,301,279		10,141,799		9,011,144
Basic earnings per share available to common stockholders	$	4.42	$	3.86	$	5.22
Diluted earnings per share available to common stockholders	$	4.42	$	3.85	$	5.21

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 79,830, 66,607, and 22,750 were excluded from the computation of diluted earnings per share for the fiscal years ended June 30, 2024, 2023, and 2022, respectively.