Earnings per Common Share (Notes)

6 Months Ended

Dec. 31, 2018

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, 2018		December 31, 2017		December 31, 2018		December 31, 2017
	(In thousands, except per share data)
Basic EPS:
Net income	$	3,932	$	4,532	$	6,237	$	8,356
Weighted average shares outstanding	27,043		26,771		26,982		26,713
Basic earnings per share	$	0.15	$	0.17	$	0.23	$	0.31
Diluted EPS:
Weighted average shares outstanding – basic	27,043		26,771		26,982		26,713
Dilutive stock options	27		34		29		24
Dilutive nonvested deferred shares	512		273		617		196
Diluted weighted average shares	27,582		27,078		27,628		26,933
Diluted earnings per share	$	0.14	$	0.17	$	0.23	$	0.31

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

	Three Months Ended		Six Months Ended
	December 31, 2018	December 31, 2017	December 31, 2018	December 31, 2017
	(In thousands)
Nonvested deferred shares	1,543	342	1,458	442