Earnings Per Share ("EPS")

12 Months Ended

Jun. 30, 2020

Note 17: Earnings Per Share (“EPS”)

Basic and diluted earnings per common share are presented for the years ended June 30, 2020 and 2019. The factors used in the earnings per common share computation follow:


	Year Ended			Year Ended
	June 30, 2020			June 30, 2019
Net income	$	4,245		$	3,558

Basic weighted average shares outstanding		3,324,657			3,716,924
Less: Average unallocated ESOP shares		(221,318	)		(240,563	)

Average shares outstanding		3,103,339			3,476,361

Diluted effect of restricted stock awards and stock options		44,693			53,856

Diluted average shares outstanding		3,148,032			3,530,217

Basic earnings per common share	$	1.37		$	1.02

Diluted earnings per common share	$	1.35		$	1.01

The Company announced a stock repurchase plan on June 12, 2019, whereby the Company could repurchase up to 89,526 shares of its common stock, or approximately 2.5% of its then current outstanding shares. On September 13, 2019, after repurchasing 20,200 shares at an average price of $21.17 per share, the Company announced an increase in the number of shares that may be repurchased under the Company’s existing stock repurchase plan, whereby the Company could repurchase up to 320,476 shares, or approximately 9.0% of its then outstanding shares. As of June 30, 2020, the Company had repurchased all shares under this plan at an average price of $22.12 per share.