Earnings per Common Share (Notes)

3 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Earnings per Common Share

Earnings per Common Share

Basic earnings per share (“Basic EPS”) is calculated based on the weighted average shares outstanding during the period. Diluted earnings per share (“Diluted EPS”) includes the dilutive effect of stock options and nonvested deferred shares.

The computation of basic and diluted earnings per share is as follows:

	Three Months Ended
	September 30, 2017		September 30, 2016
	(In thousands, except per share data)
Basic EPS:
Net income	$	3,824	$	9,342
Weighted average shares outstanding	26,655		26,387
Basic earnings per share	$	0.14	$	0.35
Diluted EPS:
Weighted average shares outstanding – basic	26,655		26,387
Dilutive stock options	10		50
Dilutive nonvested deferred shares	97		359
Diluted weighted average shares	26,762		26,796
Diluted earnings per share	$	0.14	$	0.35

The following securities are considered antidilutive and have been excluded from the calculation of Diluted EPS:

	Three Months Ended
	September 30, 2017	September 30, 2016
	(In thousands)
Nonvested deferred shares	718	78