Stock Based Compensation Plans (Tables)

3 Months Ended

Dec. 31, 2018

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 three-month period ended December 31, 2018 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 December 31, 2018, and changes during the three-month period then ended is presented below.

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
	(Dollars in thousands, except per share data)
Outstanding at beginning of period		150,033		$	24.88
Granted		2,400			59.23
Exercised		(10,500	)		14.53
Forfeited or expired		(450	)		40.09
Outstanding at end of period		141,483		$	26.18		4.2	$	3,758
Vested and expected to vest		141,483		$	26.18		4.2	$	3,758
Exercisable at end of period		101,856		$	18.57		2.7	$	3,402

Nonvested Restricted Shares Activity

A summary of the Company’s nonvested restricted shares activity as of December 31, 2018 and changes during the three-month period then ended is presented below.

				Weighted
	Number			Average
	of			Grant Date
	Shares			Fair Value
Nonvested at October 1, 2018		14,812		$	41.20
Granted		2,500		$	59.23
Vested		(3,653	)	$	40.99
Forfeited		(171	)	$	40.09
Nonvested at December 31, 2018		13,488		$	44.61