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Stock Plans And Stock Based Compensation (Tables)

9 Months Ended

Jun. 30, 2015

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

Activity under the Plans for the nine months ended June 30, 2015 and 2014 is as follows:



	Nine Months Ended June 30, 2015				Nine Months Ended June 30, 2014
	Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
Options outstanding, beginning of period	221,400		$	7.49	162,946		$	6.96
Exercised	(6,300	)	4.84		(3,600	)	4.65
Granted	76,000		10.55		135,000		9.29
Forfeited	(200	)	4.55		(66,046	)	9.97
Options outstanding, end of period	290,900		$	8.35	228,300		$	7.50

Options exercisable, end of period	73,700		$	6.48	38,300		$	4.90

Schedule of Fair Value Assumptions

The weighted average assumptions used for options granted during the nine months ended June 30, 2015 and 2014 were:



	2015			2014
Expected volatility	29		%	39		%
Expected term (in years)	5			5
Expected dividend yield	3.22		%	2.51		%
Risk free interest rate	1.43		%	1.41		%
Grant date fair value per share	$	1.97		$	2.59

Schedule of Compensation Expense by Plan

Compensation expense during the nine months ended June 30, 2015 and 2014 for all stock-based plans were as follows (dollars in thousands):



	Nine Months Ended June 30,
	2015					2014
	Stock Options			Stock Grants		Stock Options		Stock Grants
Compensation expense	$	91		$	—	$	76	$	2
Less: related tax benefit recognized	(2		)	—		—		—
Total	$	89		$	—	$	76	$	2

Schedule of Unrecognized Compensation Expense for Share-based Awards

As of June 30, 2015, the compensation expense yet to be recognized for stock options that have been awarded but not vested for the years ending September 30 is as follows (in thousands):



	Stock Options
Remainder of 2015	$	34
2016	136
2017	128
2018	97
2019	39
2020	17
Total	$	451