Earnings Per Share

12 Months Ended

Jun. 30, 2012

Notes

Earnings Per Share

NOTE 16: Earnings Per Share

The following table sets forth the computations of basic and diluted earnings per common share:

	Year Ended June 30
	2012	2011	2010
Net income	$10,098,263	$11,470,031	$4,625,588
Less: Charge for early redemption of preferred stock issued at discount	94,365	-	-
Less: Effective dividend on preferred shares	424,184	511,814	510,006
Net income available to common stockholders	$  9,579,714	$10,958,217	$4,115,582
Denominator for basic earnings per share -
Weighted-average shares outstanding	2,796,279	2,088,833	2,083,458
Effect of dilutive securities stock options	92,634	52,258	21,834
Denominator for diluted earnings per share	2,888,913	2,141,091	2,105,292
Basic earnings per share available to common stockholders	$ 3.43	$ 5.25	$ 1.98
Diluted earnings per share available to common stockholders	$ 3.32	$ 5.12	$ 1.95