Net Income Per Common Share (Tables)

12 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Schedule of Calculation of Numerator and Denominator in Earnings Per Share

Information regarding the calculation of basic and diluted net income per common share for the years ended September 30, 2020, 2019 and 2018 is as follows (dollars in thousands, except per share amounts):

	2020		2019		2018
Basic net income per common share computation
Numerator - net income	$	24,269	$	24,020	$	16,721
Denominator - weighted average common shares outstanding	8,326,600		8,318,928		7,334,577
Basic net income per common share	$	2.91	$	2.89	$	2.28
Diluted net income per common share computation
Numerator - net income	$	24,269	$	24,020	$	16,721
Denominator - weighted average common shares outstanding	8,326,600		8,318,928		7,334,577
Effect of dilutive stock options (1)	95,886		149,298		191,767
Weighted average common shares outstanding-assuming dilution	8,422,486		8,468,226		7,526,344
Diluted net income per common share	$	2.88	$	2.84	$	2.22

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(1) For the years ended September 30, 2020, 2019 and 2018, average options to purchase 131,186, 102,920 and 29,581 shares of common stock, respectively, were outstanding but not included in the computation of diluted net income per common share because their effect would have been anti-dilutive.