Earnings Per Share

6 Months Ended

Dec. 31, 2024

Earnings Per Share

Earnings Per Share

Note 8:  Earnings Per Share

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

	Three- month periods ended				Six- month periods ended
	December 31,				December 31,
(dollars in thousands except per share data)	2024		2023		2024		2023
Net income	$	14,653	$	12,193	$	27,110	$	25,345
Less: distributed earnings allocated to participating securities		(11)		(10)		(24)		(21)
Less: undistributed earnings allocated to participating securities		(50)		(43)		(99)		(90)
Net income available to common shareholders	$	14,592	$	12,140	$	26,987	$	25,234
Denominator for basic earnings per share
Weighted-average shares outstanding		11,230,514		11,286,786		11,225,779		11,286,399
Effect of dilutive securities stock options or awards		29,463		14,695		23,820		11,803
Denominator for diluted earnings per share		11,259,977		11,301,481		11,249,599		11,298,202
Basic earnings per share available to common stockholders	$	1.30	$	1.08	$	2.40	$	2.24
Diluted earnings per share available to common stockholders	$	1.30	$	1.07	$	2.40	$	2.23

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 0 and 51,500 were excluded from the computation of diluted earnings per share for the three- and six- month periods ended December 31, 2024, respectively, while outstanding options and shares of restricted stock totaling 55,000 were excluded from the computation of diluted earnings per share for each of the three- and six- month periods ended December 31, 2023, respectively.