Share Based Payments (Tables)

9 Months Ended

Jun. 30, 2014

Share-Based Payments [Abstract]

Restricted stock activity

The transactions for restricted stock for the nine months ended June 30, 2014 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		(236,888	)		29.48
Expired or forfeited		(77,417	)		30.84
Non-vested at June 30, 2014		528,319			31.63

Stock option activity

The transactions for shares under options for the nine months ended June 30, 2014 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		(63,121	)		32.40
Expired or forfeited		(20,546	)		39.08
Outstanding, June 30, 2014		661,157			38.23		1.5		$2,213
Exercisable, June 30, 2014		348,715			37.77		1.4		$1,326

Non-vested options activity

The transactions for non-vested options for the nine months ended June 30, 2014 were as follows:

				Weighted-average
				grant-date
	Shares			fair value
Non-vested at September 30, 2013		331,755			$11.29
Granted		-			-
Vested		-			-
Expired or forfeited		(19,313	)		12.65
Non-vested at June 30, 2014		312,442			11.21

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 for the nine months ended June 30, 2014 and 2013.

	Nine Months Ended June 30,
	2014			2013
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