Year Ended June 30,

(dollars in thousands except per share data)

2021

2020

2019

Net income

$

47,180

$

27,545

$

28,904

Less: distributed earnings allocated to participating securities

(18)

—

Less: undistributed earnings allocated to participating securities

(135)

—

Net income available to common shareholders

$

47,027

$

27,545

$

28,904

Denominator for basic earnings per share -

Weighted-average shares outstanding

9,007,814

9,189,876

9,193,235

Effect of dilutive securities stock options or awards

2,923

9,293

10,674

Denominator for diluted earnings per share

9,010,737

9,199,169

9,203,909

Basic earnings per share available to common stockholders

$

5.22

$

3.00

$

3.14

Diluted earnings per share available to common stockholders

$

5.22

$

2.99

$

3.14