Earnings Per Share

9 Months Ended

Mar. 31, 2025

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				Nine- month periods ended
	March 31,				March 31,
(dollars in thousands except per share data)	2025		2024		2025		2024
Net income	$	15,683	$	11,307	$	42,792	$	36,652
Less: distributed earnings allocated to participating securities		(12)		(12)		(35)		(37)
Less: undistributed earnings allocated to participating securities		(59)		(46)		(158)		(151)
Net income available to common shareholders	$	15,612	$	11,249	$	42,599	$	36,464
Denominator for basic earnings per share
Weighted-average shares outstanding		11,237,641		11,301,577		11,229,733		11,298,174
Effect of dilutive securities stock options or awards		24,642		10,971		24,282		9,260
Denominator for diluted earnings per share		11,262,283		11,312,548		11,254,015		11,307,434
Basic earnings per share available to common stockholders	$	1.39	$	1.00	$	3.79	$	3.23
Diluted earnings per share available to common stockholders	$	1.39	$	0.99	$	3.79	$	3.22

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 56,000 and 63,500 were excluded from the computation of diluted earnings per share for the three- and nine- month periods ended March 31, 2025, respectively, while outstanding options and shares of restricted stock totaling 75,000 and 79,830 were excluded from the computation of diluted earnings per share for the three- and nine- month periods ended March 31, 2024, respectively.