Net Income Per Common Share (Tables)

3 Months Ended

Dec. 31, 2022

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, 2022 and 2021 is as follows (dollars in thousands, except per share amounts):

	Three Months Ended December 31,
	2022		2021
Basic net income per common share computation
Numerator – net income	$	7,507	$	5,485
Denominator – weighted average common shares outstanding	8,232,273		8,356,066
Basic net income per common share	$	0.91	$	0.66
Diluted net income per common share computation
Numerator – net income	$	7,507	$	5,485
Denominator – weighted average common shares outstanding	8,232,273		8,356,066
Effect of dilutive stock options (1)	86,460		92,834
Weighted average common shares outstanding - assuming dilution	8,318,733		8,448,900
Diluted net income per common share	$	0.90	$	0.65

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(1) For the three months ended December 31, 2022 and 2021, average options to purchase 182,000 and 210,052 shares of common stock, respectively, were outstanding but not included in the computation of diluted net income per common share, because their effect would have been anti-dilutive.