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Equity Incentive Plan
 12 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Equity Incentive Plan Equity Incentive Plan
The Company historically provided stock-based awards through the 2013 Omnibus Incentive Plan, which provided for awards of restricted stock, restricted stock units, stock options, stock appreciation rights and cash awards to directors, directors emeritus, officers, employees and advisory directors. On November 14, 2022, at the Company's annual meeting, stockholders approved the 2022 Omnibus Incentive Plan which provides for the same types of awards as described under the 2013 Omnibus Incentive Plan. Going forward, any future grants will be made under this plan.
The cost of equity-based awards under the 2022 Omnibus Incentive Plan generally is based on the fair value of the awards on their grant date. The maximum number of shares that may be utilized for awards under the plan is 1,000,000. Shares of common stock issued under the plan will be issued out of authorized but unissued shares, some or all of which may be repurchased shares.
The table below presents share-based compensation expense and the estimated related tax benefit for stock options and restricted stock for the dates indicated below:
Year Ended June 30,
202320222021
Share-based compensation expense$1,854 $2,152 $2,102 
Tax benefit436 508 494 
The table below presents stock option activity and related information for the periods indicated below:
OptionsWeighted-
Average
Exercise Price		Remaining
Contractual Life
(Years)		Aggregate
Intrinsic
Value
Options outstanding at June 30, 20211,319,456 $19.07 3.9$11,657 
Granted47,850 30.90 
Exercised(413,636)14.70 
Forfeited(24,800)23.96 
Options outstanding at June 30, 2022928,870 $21.49 4.1$4,036 
Exercisable at June 30, 2022756,720 $20.24 3.3$3,971 
Non-vested at June 30, 2022172,150 $26.96 7.5$65 
Options outstanding at June 30, 2022928,870 $21.49 4.1$4,036 
Granted5,000 24.07 
Exercised(352,096)14.59 
Forfeited(12,550)25.47 
Options outstanding at June 30, 2023569,224 $25.69 5.1$141 
Exercisable at June 30, 2023493,264 $25.40 4.6$141 
Non-vested at June 30, 202375,960 $27.56 7.9$— 
Assumptions used in estimating the fair value of option granted during the periods indicated were as follows:
Year Ended June 30,
 20232022
Weighted-average volatility27.79 %28.01 %
Expected dividend yield1.62 %1.13 %
Risk-free interest rate3.11 %2.02 %
Expected life (years)6.56.5
Weighted-average fair value of options granted$6.77 $8.60 
At June 30, 2023, the Company had $478 of unrecognized compensation expense related to 75,960 stock options originally scheduled to vest over a five-year period. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 1.6 years at June 30, 2023. At June 30, 2022, the Company had $954 of unrecognized compensation expense related to 172,150 stock options originally scheduled to vest over a five-year period. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 1.6 years at June 30, 2022.
The table below presents restricted stock award activity and related information:
Restricted
Stock Awards(1)
Performance-Based Restricted
Stock Units(2)
Weighted-
Average Grant
Date Fair Value		Aggregate
Intrinsic
Value
Non-vested at June 30, 2021120,795 30,780 $25.06 $4,229 
Granted42,123 9,556 31.18 — 
Vested(46,626)(7,118)25.22 — 
Forfeited(13,600)— 25.27 — 
Non-vested at June 30, 2022102,692 33,218 $27.40 $2,345 
Granted57,839 21,005 27.24 — 
Vested(41,590)(13,861)27.38 — 
Forfeited(10,090)(3,032)27.32 — 
Non-vested at June 30, 2023108,851 37,330 $27.32 $3,054 
(1)Restricted stock awards are scheduled to vest over 1.0 year for director awards and 5.0 years for employee awards.
(2)Performance-based restricted stock units are scheduled to vest over 3.0 years assuming the applicable financial goals are met.
At June 30, 2023, unrecognized compensation expense was $3,154 related to 146,181 shares of restricted stock. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 1.8 years at June 30, 2023. At June 30, 2022, unrecognized compensation expense was $2,771 related to 135,910 shares of restricted stock. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 1.6 years at June 30, 2022.