Equity Incentive Plan (Tables)

9 Months Ended

Mar. 31, 2016

The table below presents stock option activity for the nine months ended March 31, 2016 and 2015:



	Options	Weighted- average exercise price		Remaining contractual life (years)	Aggregate Intrinsic Value
Options outstanding at June 30, 2014	1,513,500	$	14.40	8.6	$	2,077
Granted	10,000	16.08		10.0	—
Exercised	18,000	14.37		—	—
Forfeited	5,400	14.37		—	—
Expired	—	—		—	—
Options outstanding at March 31, 2015	1,500,100	$	14.40	7.9	$	2,340
Exercisable at March 31, 2015	549,150	$	14.39

Options outstanding at June 30, 2015	1,498,000	$	14.41	7.7	$	3,519
Granted	46,500	17.35		10.0	—
Exercised	2,200	14.37		—	—
Forfeited	13,000	14.37		—	—
Expired	—	—		—	—
Options outstanding at March 31, 2016	1,529,300	$	14.50	7.0	$	6,637
Exercisable at March 31, 2016	829,400	$	14.40

Assumptions used for grants were as follows:



Assumptions in Estimating Option Values
	2016		2015
Weighted-average volatility	15.26	%	18.90	%
Expected dividend yield	—	%	—	%
Risk-free interest rate	1.63	%	1.56	%
Expected life (years)	6.5		6.0

The table below presents restricted stock award activity for the nine months ended March 31, 2016 and 2015:



	Restricted stock awards	Weighted- average grant date fair value		Aggregate Intrinsic Value
Non-vested at June 30, 2014	403,965	$	14.39	$	6,371
Granted	—	—		—
Vested	91,895	14.39		—
Forfeited	1,600	14.37		—
Non-vested at March 31, 2015	310,470	$	14.40	$	4,958

Non-vested at June 30, 2015	310,470	$	14.40	$	5,203
Granted	34,500	17.35		—
Vested	93,670	14.39		—
Forfeited	2,550	14.37		—
Non-vested at March 31, 2016	248,750	$	14.81	$	4,686