Earnings per Common Share (Notes)

6 Months Ended

Dec. 31, 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				Six Months Ended
	December 31, 2017		December 31, 2016		December 31, 2017		December 31, 2016
	(In thousands, except per share data)
Basic EPS:
Net income	$	4,532	$	5,250	$	8,356	$	14,592
Weighted average shares outstanding	26,771		26,553		26,713		26,470
Basic earnings per share	$	0.17	$	0.20	$	0.31	$	0.55
Diluted EPS:
Weighted average shares outstanding – basic	26,771		26,553		26,713		26,470
Dilutive stock options	34		55		24		53
Dilutive nonvested deferred shares	273		224		196		319
Diluted weighted average shares	27,078		26,832		26,933		26,842
Diluted earnings per share	$	0.17	$	0.20	$	0.31	$	0.54

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

	Three Months Ended		Six Months Ended
	December 31, 2017	December 31, 2016	December 31, 2017	December 31, 2016
	(In thousands)
Nonvested deferred shares	342	64	442	137