INCOME PER COMMON SHARE (Tables)

6 Months Ended

Mar. 31, 2022

INCOME PER COMMON SHARE [Abstract]

Reconciliation of Basic and Diluted Earnings Per Share

The following table provides a reconciliation of the basic and diluted earnings per share (“EPS”) computations for the three and six months ended March 31, 2022 and 2021:

	For the Three Months Ended March 31,						For the Six Months Ended March 31,
(in thousands, except per share data)	2022			2021			2022			2021
Income:
Net income	$	1,273		$	596		$	2,961		$	851
Preferred stock dividends		(233	)		(195	)		(444	)		(369	)
Non-controlling interest dividends		(61	)		—			(61	)		—
Net Income available to common stockholders	$	979		$	401		$	2,456		$	482
Common Shares:
Basic - weighted average common shares		973.9			936.2			966.5			936.0
Effect of dilutive securities:
Stock options		57.3			47.3			57.9			39.0
Convertible preferred stock		—			0.3			0.1			0.3
Diluted - weighted average common stock		1,031.2			983.8			1,024.5			975.3
Income per Common Share:
Basic -
Net income	$	1.30		$	0.64		$	3.06		$	0.91
Preferred stock dividends		(0.24	)		(0.22	)		(0.46	)		(0.40	)
Non-controlling interest dividends		(0.06	)		—			(0.06	)		—
Net Income available to common stockholders	$	1.00		$	0.42		$	2.54		$	0.51
Diluted -
Net income	$	1.23		$	0.61		$	2.89		$	0.87
Preferred stock dividends		(0.22	)		(0.20	)		(0.43	)		(0.38	)
Non-controlling interest dividends		(0.06	)		—			(0.06	)		—
Net income available to common stockholders	$	0.95		$	0.41		$	2.40		$	0.49

Potentially Diluted Securities

Potentially diluted securities for the three and six-month period ended March 31, 2022 and 2021 are as follows:

	March 31,
	2022		2021
Employee stock options		73,994		98,994
Non-employee stock options		—		6,053
Convertible preferred stock		—		310
		73,994		105,357