Earnings Per Common Share

6 Months Ended

Dec. 31, 2011

Earnings Per Common Share [Abstract]

Earnings Per Common Share

Note 9 – 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, 2011		December 31, 2010		December 31, 2011		December 31, 2010
	(In thousands, except per share data)
Basic EPS:
Net income	$	7,031	$	5,287	$	10,540	$	8,376
Weighted average shares outstanding		25,819		26,400		26,110		26,372
Basic EPS	$	0.27	$	0.20	$	0.40	$	0.32
Diluted EPS:
Weighted average shares outstanding – basic		25,819		26,400		26,110		26,372
Dilutive stock options		64		84		76		80
Dilutive nonvested deferred shares		228		144		234		132
Diluted weighted average shares		26,111		26,628		26,420		26,584
Diluted EPS	$	0.27	$	0.20	$	0.40	$	0.32

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

	Three Months Ended				Six Months Ended
	December 31, 2011		December 31, 2010		December 31, 2011		December 31, 2010
	(In thousands)
Stock options		242		105		173		106
Nonvested deferred shares		41		54		40		128
Total antidilutive securities		283		159		213		234