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Earnings Per Share
6 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share

2.   Earnings Per Share

Shares acquired by the ESOP are not considered in the basic average shares outstanding until the shares are committed for allocation or vested to an employee’s individual account.  Unvested shares awarded pursuant to the Company’s restricted stock benefit plans are treated as participating securities in the computation of earnings per share pursuant to the two-class method as they contain nonforfeitable rights to dividends.  The two-class method is an earnings allocation that determines earnings per share for each class of common stock and participating security.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended

 

For the Six Months Ended

 

March 31,

 

March 31,

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

(Dollars in thousands, except per share data)

Net income

$

19,688 

 

$

17,715 

 

$

37,501 

 

$

35,278 

Income allocated to participating securities

 

(44)

 

 

(51)

 

 

(94)

 

 

(111)

Net income available to common stockholders

$

19,644 

 

$

17,664 

 

$

37,407 

 

$

35,167 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

139,447,275 

 

 

145,242,074 

 

 

141,183,271 

 

 

146,576,142 

Average committed ESOP shares outstanding

 

41,758 

 

 

139,531 

 

 

20,876 

 

 

69,757 

Total basic average common shares outstanding

 

139,489,033 

 

 

145,381,605 

 

 

141,204,147 

 

 

146,645,899 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of dilutive stock options

 

291 

 

 

113 

 

 

604 

 

 

107 

 

 

 

 

 

 

 

 

 

 

 

 

Total diluted average common shares outstanding

 

139,489,324 

 

 

145,381,718 

 

 

141,204,751 

 

 

146,646,006 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.14 

 

$

0.12 

 

$

0.26 

 

$

0.24 

Diluted

$

0.14 

 

$

0.12 

 

$

0.26 

 

$

0.24 

 

 

 

 

 

 

 

 

 

 

 

 

Antidilutive stock options, excluded

 

 

 

 

 

 

 

 

 

 

 

from the diluted average common shares

 

 

 

 

 

 

 

 

 

 

 

outstanding calculation

 

2,060,216 

 

 

2,463,165 

 

 

2,396,610 

 

 

2,466,339