Earnings Per Common Share

9 Months Ended

Mar. 31, 2012

Earnings Per Common Share [Abstract]

Note 8 – Earnings per Common Share

Basic earnings per share ("Basic EPS") is calculated based on the weighted average shares outstanding during the period. Diluted earnings per share ("Diluted EPS") includes the dilutive effect of stock options and nonvested deferred shares.

The computation of basic and diluted earnings per share is as follows:


	Three Months Ended				Nine Months Ended
	March 31, 2012		March 31, 2011		March 31, 2012		March 31, 2011
	(In thousands, except per share data)
Basic EPS:
Net income	$	4,862	$	4,923	$	15,402	$	13,299

Weighted average shares outstanding		25,723		26,425		25,982		26,389

Basic EPS	$	0.19	$	0.19	$	0.59	$	0.50

Diluted EPS:
Weighted average shares outstanding—basic		25,723		26,425		25,982		26,389
Dilutive stock options		91		108		80		89
Dilutive nonvested deferred shares		265		190		271		158

Diluted weighted average shares		26,079		26,723		26,333		26,636

Diluted EPS	$	0.19	$	0.18	$	0.58	$	0.50

The following securities are considered antidilutive and have been excluded from the calculation of Diluted EPS:


	Three Months Ended				Nine Months Ended
	March 31, 2012		March 31, 2011		March 31, 2012		March 31, 2011
	(In thousands)
Stock options		275		—		241		105
Nonvested deferred shares		15		32		1		49

Total antidilutive securities		290		32		242		154

- Definition

The entire disclosure for earnings per share.

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