Net Income Per Common Share (Tables)

3 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule of Earnings per Share

Information regarding the calculation of basic and diluted net income per common share for the three months ended December 31, 2019 and 2018 is as follows (dollars in thousands, except per share amounts):

	Three Months Ended    December 31,
	2019		2018
Numerator – net income	$	6,652	$	5,615
Denominator – weighted average common shares outstanding	8,341,470		8,293,212
Basic net income per common share	$	0.80	$	0.68
Diluted net income per common share computation
Numerator – net income	$	6,652	$	5,615
Denominator – weighted average common shares outstanding	8,341,470		8,293,212
Effect of dilutive stock options (1)	133,559		164,491
Weighted average common shares outstanding - assuming dilution	8,475,029		8,457,703
Diluted net income per common share	$	0.78	$	0.66

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(1) For the three months ended December 31, 2019 and 2018, average options to purchase 104,816 and 102,850 shares of common stock were outstanding but not included in the computation of diluted net income per share because their effect would have been anti-dilutive.