Common Stock Options (Tables)

12 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Fair Value of Stock Options

As the Company's stock options are not traded on the open market, the fair value of each grant is estimated on the date of grant using the Black-Scholes option pricing model including the following assumptions:

	Years Ended September 30,
	2020	2019
Expected volatility	31.53%	N/A
Expected dividends	2.74%	N/A
Expected exercise term (years)	7.00	N/A
Risk-free interest rate	0.51%	N/A

Schedule of Stock Option Transactions

Stock option transactions under the Company's plans are summarized below.

	Number of Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Terms (years)	Aggregate Intrinsic Value1
Options outstanding, September 30, 2018	100,000	14.34		6.6	1,237,286
Options granted	—	—
Options exercised	(31,508)	13.08
Options expired	—	—
Options forfeited	—	—
Options outstanding, September 30, 2019	68,492	14.91		6.2	981,170
Options granted	13,000	27.87
Options exercised	(29,992)	14.65
Options expired	—	—
Options forfeited	—	—
Options outstanding, September 30, 2020	51,500	$	18.34	6.4	$	320,797
Vested and exercisable at September 30, 2020	51,500	$	18.34	6.4	$	320,797

1Aggregate intrinsic value includes only those options where the exercise price is below the market price.

	Years Ended September 30,
	2020		2019
Weighted-average grant date option fair value	$	6.26	$	—
Stock option expense	81,380		—
Intrinsic value of options exercised	411,638		456,002
Proceeds from exercise of stock options	439,509		412,179