Net Income Per Common Share (Tables)

12 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Calculation of Numerator and Denominator in Earnings Per Share

Information regarding the calculation of basic and diluted net income per common share for the years ended September 30, 2023, 2022 and 2021 is as follows (dollars in thousands, except per share amounts):

	2023		2022		2021
Basic net income per common share computation
Numerator - net income	$	27,118	$	23,600	$	27,583
Denominator - weighted average common shares outstanding	8,175,898		8,304,002		8,340,983
Basic net income per common share	$	3.32	$	2.84	$	3.31
Diluted net income per common share computation
Numerator - net income	$	27,118	$	23,600	$	27,583
Denominator - weighted average common shares outstanding	8,175,898		8,304,002		8,340,983
Effect of dilutive stock options (1)	72,283		79,333		103,350
Weighted average common shares outstanding-assuming dilution	8,248,181		8,383,335		8,444,333
Diluted net income per common share	$	3.29	$	2.82	$	3.27

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(1) For the years ended September 30, 2023, 2022 and 2021, average options to purchase 207,803, 204,265 and 136,148 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.