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Earnings Per Share
12 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

Note 15 – 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 year Ended June 30, 
  2012  2011 
Basic:        
Net income available to common shareholders $2,764  $2,248 
Weighted average common shares outstanding  2,051,390   2,042,874 
Basic income per share $1.35  $1.10 
         
Diluted:        
Net income available to common shareholders $2,764  $2,248 
Weighted average common shares outstanding  2,051,390   2,042,874 
Dilutive effect of restricted stock  579    
Total common shares and dilutive potential common shares  2,051,969   2,042,874 
Dilutive income per share $1.35  $1.10