Earnings Per Share

3 Months Ended

Dec. 31, 2021

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
	December 31,
	2021		2020
	(Dollars in thousands, except per share amounts)
Net income	$	22,186	$	18,898
Income allocated to participating securities	(12)		(13)
Net income available to common stockholders	$	22,174	$	18,885

Average common shares outstanding	135,626,594		135,397,242
Average committed ESOP shares outstanding	449		449
Total basic average common shares outstanding	135,627,043		135,397,691

Effect of dilutive stock options	—		1,193

Total diluted average common shares outstanding	135,627,043		135,398,884

Net EPS:
Basic	$	0.16	$	0.14
Diluted	$	0.16	$	0.14

Antidilutive stock options, excluded from the diluted average
common shares outstanding calculation	543,761		431,212