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Earnings Per Share

12 Months Ended

Jun. 30, 2021

Earnings Per Share

Earnings Per Share

Note 13: Earnings Per Share

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Basic earnings per share (“EPS”) excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period.  Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the earnings of the Corporation.

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As of June 30, 2021 and 2020, there were outstanding options to purchase 417,000 shares and 554,500 shares of the Corporation’s common stock, respectively, of which 116,000 shares and 419,500 shares, respectively, were excluded from the diluted EPS computation as their effect was anti-dilutive. As of June 30, 2021 and 2020, there were outstanding restricted stock awards of 101,250 shares and 225,500 shares, respectively.

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The following table provides the basic and diluted EPS computations for the fiscal years ended June 30, 2021 and 2020, respectively:

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​	​	​	​	​	​	​	​	​
​	​	For the Year Ended June 30, 2021
​		Income			Shares		Per-Share
(Dollars in Thousands, Except Share Amount)	​	(Numerator)		​	(Denominator)	​	Amount
​	​	​	​	​	​	​	​	​
Basic EPS	​	$	7,561		7,464,814	​	$	1.01
Effect of dilutive shares:	​					​
Stock options	​	​	​		49,917	​	​	​
Restricted stock	​	​	​		23,678	​	​	​
Diluted EPS	​	$	7,561		7,538,409	​	$	1.00

​

​	​	​	​	​	​	​	​	​
​	​	For the Year Ended June 30, 2020
​		Income			Shares		Per-Share
(Dollars in Thousands, Except Share Amount)	​	(Numerator)		​	(Denominator)	​	Amount
​	​	​	​	​	​	​	​	​
Basic EPS	​	$	7,689		7,467,577	​	$	1.03
Effect of dilutive shares:	​					​
Stock options	​		​		71,307	​	​	​
Restricted stock	​		​		37,298	​	​	​
Diluted EPS	​	$	7,689		7,576,182	​	$	1.01

​

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- References

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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