Earnings Per Share

6 Months Ended

Dec. 31, 2017

2. Earnings Per Share

Diluted earnings per share is computed taking into consideration common shares outstanding and dilutive potential common shares to be issued or released under the Company’s share-based compensation plans. The factors used in the basic and diluted earnings per share computations follow:

	Six months ended December 31,				Three months ended December 31,
(in thousands)	2017		2016		2017		2016
Net income allocated to common shareholders, basic and diluted	$	1,149	$	551	$	869	$	254

	Six months ended December 31,				Three months ended December 31,
	2017		2016		2017		2016
Weighted average common shares outstanding, basic and diluted		8,361,941		8,382,239		8,364,276		8,384,586

There were no stock option shares outstanding for the six- or three-month periods ended December 31, 2017 and 2016.