Note 7: Earnings Per Share

9 Months Ended

Mar. 31, 2016

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 31,		March 31,
	2016	2015	2016	2015
(dollars in thousands except per share data)
Net income	$3,322	$3,366	$11,166	$10,103
Dividend on preferred stock	-	50	85	150
Net income available to common shareholders	$3,322	$3,316	$11,081	$9,953
Average Common shares – outstanding basic	7,435,358	7,413,257	7,427,688	7,310,494
Stock options under treasury stock method	28,221	190,660	26,631	188,625
Average Common shares – outstanding diluted	7,463,579	7,603,917	7,454,319	7,499,119
Basic earnings per common share	$0.45	$0.45	$1.49	$1.36
Diluted earnings per common share	$0.45	$0.44	$1.49	$1.33

At March 31, 2016 and 2015, no options outstanding had an exercise price exceeding the market price.