EARNINGS PER SHARE

9 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

EARNINGS PER SHARE ("EPS")

Basic EPS excludes dilution and is computed by dividing net income or loss available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if stock options or other contracts to issue common stock were exercised or converted to common stock that would then share in our earnings.

The following table presents the calculation of basic and diluted EPS:

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2012			2011			2012			2011
	(Dollars in Thousands, except per share data)
Earnings Per Common Share
Net income	$	7,718		$	5,275		$	20,911		$	15,036
Preferred stock dividends	(387		)	(77		)	(893		)	(232		)
Net income attributable to common shareholders	$	7,331		$	5,198		$	20,018		$	14,804
Average common shares issued and outstanding	11,448,404			10,310,743			11,163,025			10,259,510
Average unvested Restricted stock grant and RSU shares	470,901			506,168			449,862			438,895
Total qualifying shares	11,919,305			10,816,911			11,612,887			10,698,405
Earnings per common share	$	0.62		$	0.48		$	1.72		$	1.38
Diluted Earnings Per Common Share
Net income attributable to common shareholders	$	7,331		$	5,198		$	20,018		$	14,804
Preferred stock dividends to dilutive convertible preferred	302			—			653			—
Dilutive net income attributable to common shareholders	$	7,633		$	5,198		$	20,671		$	14,804
Average common shares issued and outstanding	11,919,305			10,816,911			11,612,887			10,698,405
Dilutive effect of Stock Options	58,507			106,944			60,353			101,364
Dilutive effect of convertible preferred stock	1,249,091			—			629,888			—
Total dilutive common shares issued and outstanding	13,226,903			10,923,855			12,303,128			10,799,769
Diluted earnings per common share	$	0.58		$	0.48		$	1.68		$	1.37