Share Based Payments (Tables)

3 Months Ended

Dec. 31, 2014

Share-Based Payments [Abstract]

Restricted stock activity

The transactions for restricted stock for the three months ended December 31, 2014 were as follows:

				Weighted-
				average
				grant-date
	Shares			fair value
Non-vested at September 30, 2014		575,150		$	33.83
Granted		205,370			40.13
Vested		(138,584	)		34.76
Expired or forfeited		(32,739	)		24.23
Non-vested at December 31, 2014		609,197			36.26

Stock option activity

The transactions for shares under options for the quarter ended December 31, 2014 were as follows:

						Weighted-
				Weighted-		average		Aggregate
				average		remaining		intrinsic
	Shares			exercise price		contractual term		value
Outstanding, September 30, 2014		512,322			$38.62
Granted		-			-
Exercised		(97,844	)		38.09
Expired or forfeited		(68,557	)		36.52
Outstanding, December 31, 2014		345,921			39.19		1.4		$3,280
Exercisable, December 31, 2014		101,933			38.76		1.3		$1,010

Non-vested options activity

The transactions for non-vested options for the quarter ended December 31, 2014 were as follows:

				Weighted-average
				grant-date
Non-vested shares	Shares			fair value
Non-vested at September 30, 2014		312,442			$11.21
Expired or forfeited		(68,454	)		11.70
Non-vested at December 31, 2014		243,988			11.07

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, 2014 and 2013.

	Three Months Ended December 31,
	2014			2013
Expected volatility		22.2	%		26.6	%
Dividend yield		1.0	%		1.1	%
Average risk-free interest rate		1.7	%		1.4	%
Average expected term (years)		1.8			2.0