EARNINGS PER COMMON SHARE (Tables)

9 Months Ended

Jun. 30, 2022

EARNINGS PER COMMON SHARE

Calculations of Basic and Diluted Earnings Per Share

The computation of earnings per common share for the three and nine months ended June 30, 2022 and 2021 follows. There were no stock options that were antidilutive for the three and nine months ended June 30, 2022 and 2021.

	Three Months Ended June 30,				Nine Months Ended June 30,
(in thousands, except share and per share data)	2022		2021		2022		2021
Basic earnings per common share
Net income	$	5,333	$	221	$	17,730	$	3,795
Weighted average common shares outstanding		6,596,505		4,731,949		5,970,288		4,368,809
Basic earnings per common share	$	0.81	$	0.05	$	2.97	$	0.87
Diluted earnings per common share
Net income	$	5,333	$	221	$	17,730	$	3,795
Weighted average common shares outstanding for basic earnings per common share		6,596,505		4,731,949		5,970,288		4,368,809
Add: dilutive effects of assumed exercises of stock options		99,062		84,311		99,206		84,129
Average shares and dilutive potential common shares		6,695,567		4,816,260		6,069,494		4,452,938
Diluted earnings per common share	$	0.80	$	0.05	$	2.92	$	0.85