Income Per Share (Notes)

6 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Income Per Share

Income Per Share

Basic net income per share for the three and six months ended March 31, 2015 and 2014 was computed by dividing net income to common shareholders by the weighted average number of shares of common stock outstanding, which consists of issued shares less unallocated ESOP shares and unvested restricted shares.

Diluted net income per share for the three and six months ended March 31, 2015 and 2014 was computed by dividing net income by weighted average shares outstanding plus potential common shares resulting from dilutive stock options and unvested restricted shares, determined using the treasury stock method.

	Three Months Ended   March 31,				Six Months Ended   March 31,
	2015		2014		2015		2014
Numerator:
Net income	$	1,434,231	$	1,490,810	$	3,107,735	$	3,127,878
Denominator:
Weighted average common shares outstanding	15,835,418		21,701,476		16,007,320		21,855,743
Common stock equivalents	540,089		522,401		540,089		522,401
Diluted shares	16,375,507		22,223,877		16,547,409		22,378,144
Net income per share:
Basic	$	0.09	$	0.07	$	0.19	$	0.14
Diluted	$	0.09	$	0.07	$	0.19	$	0.14

For the three and six months ended March 31, 2015 and 2014 there were 224,675 and 143,702, respectively, of dilutive stock options. For the three and six months ended March 31, 2015 and 2014 there were 315,414 and 378,699 shares, respectively, of unvested restricted stock which were also dilutive. There were no shares which were subject to options issued with exercise prices in excess of the average market value per share during the three and six months ended March 31, 2015. The Company excluded 971,680 shares from the calculation of diluted earnings per share for the three and six months ended March 31, 2014 which were subject to options issued with exercise prices in excess of the average market value per share during that period.