SUPPLEMENTAL DISCLOSURE FOR EARNINGS PER SHARE

12 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

SUPPLEMENTAL DISCLOSURE FOR EARNINGS PER SHARE

(28) SUPPLEMENTAL DISCLOSURE FOR EARNINGS PER SHARE

Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding during the periods presented. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options, restricted stock and other potentially dilutive securities outstanding. Earnings and dividends per share are restated for stock splits and dividends through the date of issuance of the financial statements. Earnings per share information is presented below for the years ended September 30, 2016 and 2015.

(In thousands, except share and per share data)	Years Ended September 30,
	2016		2015
Basic:
Earnings:
Net income	$	7,911	$	6,751
Less: Preferred stock dividends declared		(62)		(171)
Net income available to common shareholders	$	7,849	$	6,580
Shares:
Weighted average common shares outstanding		2,200,258		2,140,632
Net income per common share, basic	$	3.57	$	3.07
Diluted:
Earnings:
Net income	$	7,911	$	6,751
Less: Preferred stock dividends declared		(62)		(171)
Net income available to common shareholders	$	7,849	$	6,580
Shares:
Weighted average common shares outstanding		2,200,258		2,140,632
Add: Dilutive effect of outstanding options		103,370		101,862
Add: Dilutive effect of restricted stock		-		5,472
Weighted average common shares outstanding, as adjusted		2,303,628		2,247,966
Net income per common share, diluted	$	3.41	$	2.93

Unearned ESOP and nonvested restricted stock shares are not considered as outstanding for purposes of computing weighted average common shares outstanding.