Earnings Per Share

9 Months Ended

Mar. 31, 2022

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 nine months ended March 31, 2022 and 2021. Earnings per share is computed by dividing net income available to common stockholders 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 $824 thousand and $3.2 million for the three and nine months ended March 31, 2022, respectively, and $1.1 million and $3.1 million for the three and nine months ended March 31, 2021, respectively, were used as the numerators.

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				Nine Months Ended
	March 31,				March 31,
(Dollars in thousands, except share and per share amounts)	2022		2021		2022		2021
Weighted-average common shares and common stock equivalents used to calculate basic and diluted earnings per share		14,318,839		14,613,210		14,310,484		14,623,497
Net income	$	824	$	1,067	$	3,159	$	3,113
Basic and diluted earnings per share	$	0.06	$	0.07	$	0.22	$	0.21