Supplemental Disclosure for Earnings Per Share

9 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Supplemental Disclosure for Earnings Per Share

5. Supplemental Disclosure for Earnings Per Share

When presented, basic earnings per share are computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Earnings per share information is presented below for the three- and nine-month periods ended June 30, 2015 and 2014.

	Three Months Ended				Nine Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
	(Dollars in thousands, except per share data)
Basic:
Earnings:
Net income	$	2,196	$	1,456	$	4,923	$	4,020
Less: Preferred stock dividends declared		(43)		(43)		(129)		(129)
Net income available to common shareholders	$	2,153	$	1,413	$	4,794	$	3,891
Shares:
Weighted average common shares outstanding		2,149,931		2,092,938		2,133,557		2,130,599
Net income per common share, basic	$	1.00	$	0.68	$	2.25	$	1.83
Diluted:
Earnings:
Net income	$	2,196	$	1,456	$	4,923	$	4,020
Less: Preferred stock dividends declared		(43)		(43)		(129)		(129)
Net income available to common shareholders	$	2,153	$	1,413	$	4,794	$	3,891
Shares:
Weighted average common shares outstanding		2,149,931		2,092,938		2,133,557		2,130,599
Add: Dilutive effect of outstanding options		103,545		96,885		99,515		93,256
Add: Dilutive effect of restricted stock		5,694		11,500		7,850		13,338
Weighted average common shares outstanding as adjusted		2,259,170		2,201,323		2,240,922		2,237,193
Net income per common share, diluted	$	0.95	$	0.64	$	2.14	$	1.74

Unearned ESOP and nonvested restricted stock shares are not considered as outstanding for purposes of computing weighted average common shares outstanding.