Note 7: Earnings Per Share

9 Months Ended

Mar. 31, 2015

Notes

Note 7: Earnings Per Share

Note 7:  Earnings Per Share

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

	Three months ended		Nine months ended
	March,		March,
	2015	2014	2015	2014
(dollars in thousands except per share data)
Net income	$3,366	$2,243	$10,103	$7,325
Dividend payable on preferred stock	50	50	150	150
Net income available to common shareholders	$3,316	$2,193	$9,953	$7,175
Average Common shares – outstanding basic	7,413,257	6,623,480	7,310,494	6,591,848
Stock options under treasury stock method	190,660	223,340	188,625	205,708
Average Common shares – outstanding diluted	7,603,917	6,846,820	7,499,119	6,797,556
Basic earnings per common share	$0.45	$0.33	$1.36	$1.09
Diluted earnings per common share	$0.44	$0.32	$1.33	$1.06

At March 31, 2015 and 2014, no options outstanding had an exercise price exceeding the market price.