Stock-based Compensation (Tables)

12 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of weighted average assumptions for option awards

The table below outlines the weighted average assumptions that the Company used to calculate the fair value of each option award for the year ended June 30, 2020 and 2019.

	2020		2019
Dividend yield		4.88%		3.68%
Expected stock price volatility		27.81%		27.63%
Risk-free interest rate		1.67%		2.70%
Expected option life (in years)		5.3 yrs		5.2 yrs
Weighted average fair value per share
of options granted during the period	$	3.03	$	5.13

Schedule of stock option activity

The following table summarizes stock option activity during the twelve months ended June 30, 2020:

	Employee Stock Options Plan
						Weighted
	Number of			Weighted		Average
	Shares			Average		Remaining		Aggregate
	Subject			Exercise		Contractual		Intrinsic
	to Option			Price		Term		Value
Balance at July 1, 2019		259,164		$	25.16		6.37
Granted		54,025		$	20.50		9.44
Exercised		(3,600	)	$	22.50		—
Forfeited or expired		(32,877	)	$	25.05		—
Outstanding at June 30, 2020		276,712		$	24.30		6.10	$	0
Vested or expected to vest at June 30, 2020		261,573		$	24.34		5.93	$	0
Exercisable at June 30, 2020		179,520		$	24.63		4.54	$	0

Schedule of changes in non-vested stock options

The following table summarizes changes in non-vested stock options during the twelve months ended June 30, 2020:

				Weighted
	Number of			Average
	Shares			Grant Date
	Subject			Fair Value
	to Option			(per Option)
Non-Vested at July 1, 2019		104,214		$	4.08
Granted		54,025			3.03
Vested		(45,920	)		2.93
Forfeited or expired		(15,127	)		4.11
Non-Vested at June 30, 2020		97,192		$	4.03