Note 7: Earnings Per Share

3 Months Ended

Dec. 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		Six months ended
	December 31,		December 31,
	2016	2015	2016	2015
(dollars in thousands except per share data)
Net income	$4,176	$4,209	$7,885	$7,844
Dividend on preferred stock	-	35	-	85
Net income available to common shareholders	$4,176	$4,174	$7,885	$7,759
Average Common shares – outstanding basic	7,440,620	7,425,351	7,438,767	7,423,853
Stock options under treasury stock method	26,388	34,833	25,195	32,804
Average Common shares – outstanding diluted	7,467,008	7,460,184	7,463,962	7,456,657
Basic earnings per common share	$0.56	$0.56	$1.06	$1.05
Diluted earnings per common share	$0.56	$0.56	$1.06	$1.04

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