v2.4.0.6
Earnings Per Share
9 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

Note 5 – Earnings Per Share

 

Basic earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period and is equal to net income divided by the weighted average number of shares outstanding during the period.  Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares that may be issued upon the vesting of restricted stock awards.  The following table details the calculation of basic and diluted earnings per share:

 

    For the Three Months Ended
March 31,
    For the Nine Months Ended
March 31,
 
    2012     2011     2012     2011  
Basic:                                
Net income available to common shareholders   $ 686     $ 482     $ 2,164     $ 1,689  
Weighted average common shares outstanding     2,051,024       2,044,179       2,050,390       2,041,402  
     Basic income per share   $ 0.33     $ 0.24     $ 1.06     $ 0.83  
                                 
Diluted:                                
Net income available to common shareholders   $ 686     $ 482     $ 2,164     $ 1,689  
Weighted average common shares outstanding     2,051,024       2,044,179       2,050,390       2,041,402  
Dilutive effect of restricted stock     534             445        
Total common shares and dilutive potential common shares     2,051,558       2,044,179       2,050,835       2,041,402  
     Dilutive income per share   $ 0.33     $ 0.24     $ 1.06     $ 0.83