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STOCK BASED COMPENSATION PLANS (Tables)
12 Months Ended
Sep. 30, 2015
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Nonvested Restricted Shares Activity
A summary of the Company’s nonvested restricted shares for the year ended September 30, 2015 is as follows:
 
 
 
 
 
Weighted
 
 
 
Number
 
Average
 
 
 
of
 
Grant-Date
 
 
 
Shares
 
Fair Value
 
 
 
 
 
 
 
 
 
Nonvested at beginning of year
 
 
19,610
 
$
13.25
 
Granted
 
 
-
 
 
-
 
Vested
 
 
(19,610)
 
 
13.25
 
Forfeited
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
Nonvested at end of year
 
 
-
 
 
-
 
Share-based Payment Award, Stock Options, Valuation Assumptions
The fair value of options granted was determined using the following assumptions:
 
Expected dividend yield
 
 
4.53
%
Risk-free interest rate
 
 
2.82
%
Expected volatility
 
 
30.00
%
Expected life of options
 
 
7.0 years
 
Weighted average fair value at grant date
 
$
3.09
 
Stock Option Activity
A summary of stock option activity under the plan as of September 30, 2015, and changes during the year then ended is presented below.
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
Weighted
 
Average
 
 
 
 
 
Number
 
Average
 
Remaining
 
Aggregate
 
 
 
of
 
Exercise
 
Contractual
 
Intrinsic
 
 
 
Shares
 
Price
 
Term
 
Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at beginning of year
 
 
234,232
 
$
13.25
 
 
5.6
 
$
2,743,000
 
Granted
 
 
-
 
 
-
 
 
 
 
 
 
 
Exercised
 
 
(20,972)
 
$
13.25
 
 
 
 
$
250,000
 
Forfeited or expired
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at end of year
 
 
213,260
 
$
13.25
 
 
4.6
 
$
4,425,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable at end of year
 
 
213,260
 
$
13.25
 
 
4.6
 
$
4,425,000