Note 7: Earnings Per Share

3 Months Ended

Sep. 30, 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
	September,
(dollars in thousands except per share data)	2015	2014
Net income	$3,635	$3,299
Charge for early redemption of preferred stock issued at discount	-	-
Dividend payable on preferred stock	50	50
Net income available to common shareholders	$3,585	$3,249
Average Common shares – outstanding basic	7,422,354	7,113,872
Stock options under treasury stock method	31,503	194,070
Average Common shares – outstanding diluted	7,453,857	7,307,942
Basic earnings per common share	$0.48	$0.46
Diluted earnings per common share	$0.48	$0.44

At September 30, 2015 and 2014, no options outstanding had an exercise price exceeding the market price.