Earnings Per Share

6 Months Ended

Dec. 31, 2020

Earnings Per Share

Earnings Per Share

Note 3 - Earnings Per Share

The following table presents a calculation of basic and diluted earnings per share for the three and six months ended December 31, 2020 and 2019. Earnings per share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding. There are no convertible securities which would affect the numerator in calculating basic and diluted earnings per share; therefore, the net income of $1.4 million and $2.0 million for the three and six months ended December 31, 2020 and $929 thousand and $1.8 million for the three and six months ended December 31, 2019, respectively, was used as the numerator.

The following table sets forth the composition of the weighted average common shares (denominator) used in the basic and diluted earnings per share computation.

	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2020		2019		2020		2019
Weighted-average common shares outstanding		4,667,304		4,158,113		4,667,304		4,158,113
Average treasury stock shares		(177,959)		(177,959)		(177,959)		(177,959)
Average unearned ESOP shares		—		—		—		—
Weighted-average common shares and common stock equivalents used to calculate basic and diluted earnings per share		4,489,345		3,980,154		4,489,345		3,980,154
Net Income	$	1,376	$	929	$	2,046	$	1,783
Basic and diluted earnings per share	$	0.31	$	0.23	$	0.46	$	0.45