Net Income Per Share (Tables)

9 Months Ended

Jun. 30, 2024

Net Income Per Share

Schedule of basic and diluted net earnings per share

	Three Months Ended						Nine Months Ended
	June 30,						June 30,
(in thousands, except share and per share data)	2023			2024			2023			2024
Numerator: Basic and Diluted
Net income	$	8,759		$	8,125		$	28,847		$	24,378
Dividends paid and accrued		(2,823)			(2,853)			(8,437)			(8,485)
Undistributed income		5,936			5,272			20,410			15,893
Percentage allocated to common shares (a)		99.2	%		99.3	%		99.2	%		99.3	%
Undistributed income allocated to common shares		5,890			5,234			20,250			15,776
Dividends paid on common shares outstanding		2,801			2,831			8,372			8,374
Net income available to common shares		8,691			8,065			28,622			24,150
Denominator: Basic and Diluted
Weighted average common shares outstanding		12,611,020			12,660,857			12,551,889			12,653,582
Adjustment for dilutive potential common shares		184,824			222,756			223,646			187,621
Weighted average shares outstanding - Diluted		12,795,844			12,883,613			12,775,535			12,841,203
Basic net income per share	$	0.69		$	0.64		$	2.28		$	1.91
Diluted net income per share	$	0.68		$	0.63		$	2.24		$	1.88
Number of stock option shares excluded as their effect would be anti-dilutive		184,868			245,953			210,666			235,209
Number of restricted stock shares excluded as their effect would be anti-dilutive		42,022			41,938			43,018			45,235
Number of deferred restricted stock shares excluded as their effect would be anti-dilutive		5,403			3,109			6,268			3,354
Number of performance share awards excluded as their effect would be anti-dilutive		38,650			37,473			41,106			36,620
(a) Percentage allocated to common shares - Weighted average
Common shares outstanding		12,611,020			12,660,857			12,551,889			12,653,582
Unvested participating shares		99,377			91,710			99,050			93,502
		12,710,397			12,752,567			12,650,939			12,747,084