Stock Compensation Plans (Tables)

9 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement, Noncash Expense [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

Stock option activity for the nine months ended June 30, 2020 and 2019 is summarized as follows:

	Nine Months Ended June 30, 2020			Nine Months Ended June 30, 2019
	Number of Shares	Weighted Average Exercise Price		Number of Shares	Weighted Average Exercise Price
Options outstanding, beginning of period	378,304	$	18.15	380,820	$	16.03
Exercised	(37,975)	10.31		(37,756)	9.00
Granted	1,000	26.50		—	—
Forfeited	(9,050)	25.10		(3,900)	18.63
Options outstanding, end of period	332,279	$	18.88	339,164	$	16.79

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The weighted average assumptions for options granted during the nine months ended June 30, 2020 were as follows:

Expected volatility	29		%
Expected life (in years)	5
Expected dividend yield	3.36		%
Risk free interest rate	1.61		%
Grant date fair value per share	$	4.98

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

Additional information regarding options outstanding at June 30, 2020 is as follows:

	Options Outstanding				Options Exercisable
Range of Exercise Prices ($)	Number	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Number	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
$ 4.01 - 4.55	1,000	$	4.01	1.4	1,000	$	4.01	1.4
5.86 - 6.00	19,100	5.97		2.3	19,100	5.97		2.3
9.00	37,425	9.00		3.3	37,425	9.00		3.3
10.26 - 10.71	89,464	10.59		4.8	80,414	10.58		4.8
15.67	42,800	15.67		6.3	23,000	15.67		6.3
26.50 - 27.14	46,640	27.13		9.3	—	N/A		N/A
29.69	53,000	29.69		7.3	21,200	29.69		7.3
31.80	42,850	31.80		8.3	8,570	31.80		8.3
	332,279	$	18.88	6.1	190,709	$	13.46	4.8