EARNINGS PER SHARE

9 Months Ended

Mar. 31, 2013

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						Nine Months Ended
	March 31,						March 31,
(Dollars in thousands, except per share data)	2013			2012			2013			2012
Earnings Per Common Share
Net income	$	10,402		$	7,718		$	29,159		$	20,911
Preferred stock dividends	(349		)	(387		)	(758		)	(893		)
Net income attributable to common shareholders	$	10,053		$	7,331		$	28,401		$	20,018
Average common shares issued and outstanding	12,874,371			11,448,404			12,506,745			11,163,025
Average unvested Restricted stock grant and RSU shares	419,342			470,901			395,855			449,862
Total qualifying shares	13,293,713			11,919,305			12,902,600			11,612,887
Earnings per common share	$	0.76		$	0.62		$	2.20		$	1.72
Diluted Earnings Per Common Share
Net income attributable to common shareholders	$	10,053		$	7,331		$	28,401		$	20,018
Preferred stock dividends to dilutive convertible preferred	279			302			532			653
Dilutive net income attributable to common shareholders	$	10,332		$	7,633		$	28,933		$	20,671
Average common shares issued and outstanding	13,293,713			11,919,305			12,902,600			11,612,887
Dilutive effect of Stock Options	48,918			58,507			60,867			60,353
Dilutive effect of convertible preferred stock	608,855			1,249,091			711,634			629,888
Total dilutive common shares issued and outstanding	13,951,486			13,226,903			13,675,101			12,303,128
Diluted earnings per common share	$	0.74		$	0.58		$	2.12		$	1.68