EARNINGS PER SHARE

6 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

EARNINGS PER SHARE (EPS)

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						Six Months Ended
	December 31,						December 31,
(Dollars in thousands, except per share data)	2012			2011			2012			2011
Earnings Per Common Share
Net income	9,768			6,660			18,757			13,193
Preferred stock dividends	(332		)	(380		)	(409		)	(506		)
Net income attributable to common shareholders	9,436			6,280			18,348			12,687
Average common shares issued and outstanding	12,820,810			10,732,728			12,322,932			10,565,507
Average unvested Restricted stock grant and RSU shares	403,802			442,219			384,905			470,539
Total qualifying shares	13,224,612			11,174,947			12,707,837			11,036,046
Earnings per common share	$	0.71		$	0.56		$	1.44		$	1.15
Diluted Earnings Per Common Share
Net income attributable to common shareholders	9,436			6,280			18,348			12,687
Preferred stock dividends to dilutive convertible preferred	254			303			254			351
Dilutive net income attributable to common shareholders	9,690			6,583			18,602			13,038
Average common shares issued and outstanding	13,224,612			11,174,947			12,707,837			11,036,046
Dilutive effect of Stock Options	63,771			61,908			68,759			61,276
Dilutive effect of convertible preferred stock	536,057			1,067,773			761,907			318,471
Total dilutive common shares issued and outstanding	13,824,440			12,304,628			13,538,503			11,415,793
Diluted earnings per common share	$	0.70		$	0.54		$	1.37		$	1.14