Earnings Per Share

12 Months Ended

Jun. 30, 2021

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 years ended June 30, 2021 and 2020. 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 $3.8 million and $1.3 million for the years ended June 30, 2021 and 2020, 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.

	Year ended
	June 30,
(Dollars in thousands, except share and per share amounts)	2021		2020
Weighted-average common shares and common stock equivalents used to calculate basic and diluted earnings per share		14,541,136		13,245,864
Net income	$	3,779	$	1,328
Basic and diluted earnings per share	$	0.26	$	0.10