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EARNINGS PER SHARE | 3 Months Ended
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Sep. 30, 2021
Earnings Per Share [Abstract] |
Earnings Per Share [Text Block] | NOTE 8. EARNINGS PER SHARE The basic earnings per share (“EPS”) calculation excludes dilution and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution of EPS that could occur if options to issue common stock were exercised. The following table sets forth the computation for basic and diluted EPS:
|  | Three Months Ended September 30, |
(dollars in thousands, except per share data) |  | 2021 |  |  | 2020 |
Net Income |  | $ | 2,390 |  |  | $ | 1,944 |
Weighted average number of outstanding shares |  |  |  |  |  |  |  |
Basic |  |  | 15,030,115 |  |  |  | 15,080,549 |
Effect of dilutive securities |  |  |  |  |  |  |  |
Employee stock options |  |  | 1,084 |  |  |  | 194 |
Diluted |  |  | 15,031,199 |  |  |  | 15,080,743 |
Earnings Per Share |  |  |  |  |  |  |  |
Basic Net Income per Share |  | $ | 0.16 |  |  | $ | 0.13 |
Diluted Net Income per Share |  | $ | 0.16 |  |  | $ | 0.13 |
The diluted EPS calculation excludes the effect of stock options when their exercise prices exceed the average market price for the period, as their inclusion would be anti-dilutive. For the three months ended September 30, 2021, employee stock options for 231,000 were excluded from diluted EPS. For the three months ended September 30, 2020, no employee stock options were excluded from diluted EPS. During the three months ended September 30, 2021, and 2020, the Company repurchased class A shares on the open market. Upon repurchase, these shares are classified as treasury shares and are deducted from outstanding shares in the earnings per share calculation.

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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=124432515&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=124432515&loc=d3e3630-109257 + Details
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