Earnings Per Share

9 Months Ended

Jun. 30, 2020

EARNINGS PER SHARE

Shares acquired by the ESOP are not included in 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 EPS pursuant to the two-class method as they contain nonforfeitable rights to dividends. The two-class method is an earnings allocation that determines EPS for each class of common stock and participating security.


	For the Three Months Ended						For the Nine Months Ended
	June 30,						June 30,
	2020		2019		2020		2019
	(Dollars in thousands, except per share amounts)
Net income	$	19,474	$	22,897	$	46,261	$	71,834
Income allocated to participating securities	(16)		(16)		(38)		(35)
Net income available to common stockholders	$	19,458	$	22,881	$	46,223	$	71,799

Average common shares outstanding	137,935,000		137,637,428		137,919,631		137,593,497
Average committed ESOP shares outstanding	83,052		83,052		41,600		41,602
Total basic average common shares outstanding	138,018,052		137,720,480		137,961,231		137,635,099

Effect of dilutive stock options	—		67,048		31,747		55,335

Total diluted average common shares outstanding	138,018,052		137,787,528		137,992,978		137,690,434

Net EPS:
Basic	$	0.14	$	0.17	$	0.34	$	0.52
Diluted	$	0.14	$	0.17	$	0.34	$	0.52

Antidilutive stock options, excluded from the diluted average
common shares outstanding calculation	813,645		457,486		405,522		491,669