Note 7: Earnings Per Share

3 Months Ended

Sep. 30, 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
	September 30,
	2016	2015
(dollars in thousands except per share data)
Net income	$3,709	$3,635
Dividend on preferred stock	-	50
Net income available to common shareholders	$3,709	$3,585
Average Common shares – outstanding basic	7,436,914	7,422,354
Stock options under treasury stock method	30,556	31,503
Average Common shares – outstanding diluted	7,467,470	7,453,857
Basic earnings per common share	$0.50	$0.48
Diluted earnings per common share	$0.50	$0.48

At September 30, 2016 and 2015, no options outstanding had an exercise price exceeding the market price.