Stock Based Compensation Plans (Tables)

9 Months Ended

Jun. 30, 2017

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of options granted during the nine month period ended June 30, 2017 was determined using the following assumptions:

Expected dividend yield		1.75	%
Risk-free interest rate		2.13	%
Expected volatility		14.6	%
Expected life of options		7.5 years
Weighted average fair value at grant date	$	6.13

Stock Option Activity

A summary of stock option activity as of June 30, 2017, and changes during the nine month period then ended is presented below.

			Weighted		Weighted
			Average		Average
	Number		Exercise		Remaining		Aggregate
	of		Price		Contractual		Intrinsic
	Shares		Per Share		Term (years)		Value
	(Dollars in thousands, except per share data)
Outstanding at October 1, 2016		187,050	$	13.25
Granted		51,295		40.09
Exercised		(26,858)		13.25
Forfeited or expired		-		-
Outstanding at June 30, 2017		211,487	$	19.76		4.5	$	6,983
Vested and expected to vest		211,487	$	19.76		4.5	$	6,983
Exercisable at June 30, 2017		160,192	$	13.25		2.9	$	6,332

Nonvested Restricted Shares Activity

A summary of the Company’s nonvested restricted shares activity as of June 30, 2017 and changes during the nine month period then ended is presented below.

			Weighted
	Number		Average
	of		Grant Date
	Shares		Fair Value
Nonvested at October 1, 2016		-		-
Granted		17,265	$	40.09
Vested		-		-
Forfeited		-		-
Nonvested at June 30, 2017		17,265	$	40.09