Share Based Payments (Tables)

3 Months Ended

Dec. 31, 2013

Share-Based Payments [Abstract]

Restricted stock activity

The transactions for restricted stock for the three months ended December 31, 2013 were as follows:

				Weighted-
				average
				grant-date
	Shares			fair value
Non-vested at September 30, 2013		641,399			$29.46
Granted		201,225			35.71
Vested		(196,009	)		29.99
Expired or forfeited		(74,750	)		30.85
Non-vested at December 31, 2013		571,865			31.30

Stock option activity

The transactions for shares under options for the quarter ended December 31, 2013 were as follows:

						Weighted-
				Weighted-		average		Aggregate
				average		remaining		intrinsic
	Shares			exercise price		contractual term		value
Outstanding, September 30, 2013		744,824			$37.76
Granted		-			-
Exercised		(57,983	)		31.99
Expired or forfeited		(15,833	)		39.18
Outstanding, December 31, 2013		671,008			38.22		2.0		$2,944
Exercisable, December 31, 2013		354,420			37.76		1.9		$1,718

Non-vested options activity

The transactions for non-vested options for the quarter ended December 31, 2013 were as follows:

				Weighted-average
				grant-date
Non-vested shares	Shares			fair value
Non-vested at September 30, 2013		331,755			$11.29
Granted		-			-
Vested		-			-
Expired or forfeited		(15,167	)		12.25
Non-vested at December 31, 2013		316,588			11.24

Assumptions used in estimating fair value

The fair value of each restricted stock grant is estimated on the date of grant using a binomial lattice valuation model.  The following table indicates the assumptions used in estimating fair value of restricted stock granted during the periods ended December 31, 2013 and 2012.

	Three Months Ended December 31,
	2013			2012
Expected volatility		26.6	%		29.5	%
Dividend yield		1.1	%		1.2	%
Average risk free interest rate		1.4	%		0.6	%
Average expected term (years)		2.0			2.0