STOCK OPTIONS

9 Months Ended

Jun. 30, 2011

STOCK OPTIONS

STOCK OPTIONS

8. STOCK OPTIONS

        The following table summarizes stock option activity during the nine months ended June 30, 2011:

	Number of Options			Weighted-Average Exercise Price
Options outstanding and exercisable at September 30, 2010		391,688		$	9.64
Exercised		(70,188	)		6.16
Options outstanding and exercisable at June 30, 2011		321,500		$	10.40

        No options to purchase shares of common stock for the three and nine months ended June 30, 2011 and the three months ended June 30, 2010 were excluded from the computation of diluted earnings per share because the exercise prices of all stock options were less than the average share price of the Company's common stock. Options to purchase 95,100 shares of common stock for the nine months ended June 30, 2010 were excluded from the computation of diluted earnings per share because the exercise prices of these stock options were greater than the average share price of the Company's common stock and, therefore, the effect would have been antidilutive.

        During the nine months ended June 30, 2011, the Company received proceeds of $432 related to the exercise of stock options. During this same period, the Company recorded a tax benefit of $257 and optionees realized an aggregate pre-tax gain of $667 from these stock option exercises. During the nine months ended June 30, 2010, the Company received proceeds of $127 related to the exercise of stock options. During this same period, the Company recorded a tax benefit of $87 and optionees realized an aggregate pre-tax gain of $226 from these stock option exercises.