Note 7: Earnings Per Share

3 Months Ended

Dec. 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		Six months ended
	December 31,		December 31,
	2015	2014	2015	2014
(dollars in thousands except per share data)
Net income	$4,209	$3,437	$7,844	$6,733
Dividend on preferred stock	35	50	85	100
Net income available to common shareholders	$4,174	$3,387	$7,759	$6,633
Average Common shares – outstanding basic	7,425,351	7,404,354	7,423,853	7,259,114
Stock options under treasury stock method	34,833	188,568	32,804	186,542
Average Common shares – outstanding diluted	7,460,184	7,592,922	7,456,657	7,445,656
Basic earnings per common share	$0.56	$0.46	$1.05	$0.91
Diluted earnings per common share	$0.56	$0.45	$1.04	$0.89

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