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EARNINGS PER SHARE
12 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Note 14 – 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,
 
 
 
2013
 
2012
 
Basic:
 
 
 
 
 
 
 
Net income available to common shareholders
 
$
2,669
 
$
2,764
 
Weighted average common shares outstanding
 
 
2,063,666
 
 
2,051,390
 
Basic income per share
 
$
1.29
 
$
1.35
 
 
 
 
 
 
 
 
 
Diluted:
 
 
 
 
 
 
 
Net income available to common shareholders
 
$
2,669
 
$
2,764
 
Weighted average common shares outstanding
 
 
2,063,666
 
 
2,051,390
 
Dilutive effect of restricted stock
 
 
539
 
 
579
 
Total common shares and dilutive potential common shares
 
 
2,064,205
 
 
2,051,969
 
Dilutive income per share
 
$
1.29
 
$
1.35