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Earnings Per Share | 9 Months Ended
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Mar. 31, 2023
Earnings Per Share |
Earnings Per Share | Note 7: Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended |  | Nine months ended | ​
​ | ​ | March 31, |  | March 31, | ​
(dollars in thousands except per share data) |  | 2023 |  | 2022 |  | 2023 |  | 2022 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 2,409 | ​ | $ | 9,351 | ​ | $ | 23,676 | ​ | $ | 34,082 | ​
Less: distributed earnings allocated to participating securities | ​ |  | (10) | ​ |  | (8) | ​ |  | (31) | ​ |  | (22) | ​
Less: undistributed earnings allocated to participating securities | ​ |  | (8) | ​ |  | (33) | ​ |  | (89) | ​ |  | (118) | ​
Net income available to common shareholders | ​ | $ | 2,391 | ​ | $ | 9,310 | ​ | $ | 23,556 | ​ | $ | 33,942 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average common shares outstanding, including participating securities | ​ |  | 10,893,199 | ​ |  | 9,060,272 | ​ |  | 9,783,773 | ​ |  | 8,948,856 | ​
Less: weighted-average participating securities outstanding (restricted shares) | ​ |  | (49,510) | ​ |  | (39,230) | ​ |  | (44,100) | ​ |  | (36,998) | ​
Denominator for basic earnings per share - | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average shares outstanding | ​ |  | 10,843,689 | ​ |  | 9,021,042 | ​ |  | 9,739,673 | ​ |  | 8,911,858 | ​
Effect of dilutive securities stock options or awards | ​ |  | 14,652 | ​ |  | 23,004 | ​ |  | 20,459 | ​ |  | 18,488 | ​
Denominator for diluted earnings per share | ​ | ​ | 10,858,341 | ​ | ​ | 9,044,046 | ​ | ​ | 9,760,132 | ​ | ​ | 8,930,346 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per share available to common stockholders | ​ | $ | 0.22 | ​ | $ | 1.03 | ​ | $ | 2.42 | ​ | $ | 3.81 | ​
Diluted earnings per share available to common stockholders | ​ | $ | 0.22 | ​ | $ | 1.03 | ​ | $ | 2.41 | ​ | $ | 3.80 | ​
​ Certain option and restricted stock awards were excluded from the computation of diluted earnings per share because they were anti-dilutive, based on the average market prices of the Company’s common stock for these periods. Outstanding options and shares of restricted stock totaling 84,740 and 66,440 were excluded from the computation of diluted earnings per share for each of the three- and nine- month periods ended March 31, 2023, while outstanding options and shares of restricted stock totaling 14,500 and 22,750 were excluded from the computation of diluted earnings per share for each of the three- and nine- month periods ended March 31, 2022.

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