Earnings Per Common Share ("EPS")

6 Months Ended

Dec. 31, 2019

Note 4: Earnings Per Common Share (“EPS”)

Basic and diluted earnings per common share are presented for the three month and six month periods ended December 31, 2019 and 2018. The factors used in the earnings per common share computation follow:


	Three Months Ended			Three Months Ended			Six Months Ended			Six Months Ended
	December 31, 2019			December 31, 2018			December 31, 2019			December 31, 2018
Net income (loss)	$	964		$	787		$	2,064		$	1,721

Basic weighted average shares outstanding		3,266,353			3,813,636			3,399,814			3,842,522
Less: Average unallocated ESOP shares		(223,723	)		(242,968	)		(226,129	)		(245,374	)

Basic average shares outstanding		3,042,630			3,570,668			3,173,685			3,597,148

Diluted effect of restricted stock awards and stock options		57,282			53,475			54,778			62,683

Diluted average shares outstanding		3,099,912			3,624,143			3,228,463			3,659,831

Basic earnings (loss) per common share	$	0.32		$	0.22		$	0.65		$	0.48

Diluted earnings (loss) per common share	$	0.31		$	0.22		$	0.64		$	0.47

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. As of September 30, 2019, 20,200 shares were repurchased at an average price of $21.17 per share. On September 13, 2019, 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 December 31, 2019, there were 297,681 shares repurchased by the Company and there were 22,795 shares yet to be repurchased under this plan.