Note 16: Earnings Per Share

12 Months Ended

Jun. 30, 2014

Notes

Note 16: 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,
	2014	2013	2012
Net income	$10,081,101	$10,067,215	$10,098,263
Less:  Charge for early redemption of preferred      stock issued at discount			94,365
Less: Effective dividend on preferred shares	200,000	345,115	424,184
Net income available to common stockholders	$9,881,101	$9,722,100	$9,579,714
Denominator for basic earnings per share -
Weighted-average shares outstanding	3,308,180	3,291,440	2,796,279
Effect of dilutive securities stock options	92,027	84,113	92,634
Denominator for diluted earnings per share	3,400,207	3,375,553	2,888,913
Basic earnings per share available to common stockholders	$2.99	$2.95	$3.43
Diluted earnings per share available to common stockholders	$2.91	$2.88	$3.32