Stock Compensation Plans (Tables)

9 Months Ended

Jun. 30, 2023

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, 2023 and 2022 is summarized as follows:

	Nine Months Ended June 30, 2023			Nine Months Ended June 30, 2022
	Number of Shares	Weighted Average Exercise Price		Number of Shares	Weighted Average Exercise Price
Options outstanding, beginning of period	421,925	$	23.30	406,815	$	21.62
Exercised	(27,055)	19.77		(29,770)	12.05
Granted	1,000	33.40		1,000	27.25
Forfeited	(7,800)	28.23		(18,170)	25.98
Options outstanding, end of period	388,070	$	23.47	359,875	$	22.20

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value

The weighted average assumptions for options granted during the nine months ended June 30, 2023 were as follows:

Expected volatility	33		%
Expected life (in years)	5
Expected dividend yield	2.99		%
Risk free interest rate	3.58		%
Grant date fair value per share	$	8.65

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

Additional information regarding options outstanding at June 30, 2023 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)
9.00			14,000	$	9.00	0.3	14,000	$	9.00	0.3
10.26	-	10.71	45,000	10.55		1.6	45,000	10.55		1.6
15.67	-	19.13	74,500	16.53		6.1	38,410	16.18		4.9
26.50	-	27.40	107,820	27.32		8.3	21,140	27.15		6.4
28.23	-	29.69	111,950	28.77		6.8	55,550	29.33		5.2
31.80	-	33.40	34,800	31.85		5.4	27,060	31.80		5.3
			388,070	$	23.47	6.1	201,160	$	21.31	4.2