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Employee Benefits (Tables)
 12 Months Ended
Sep. 30, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Black-Scholes Option Pricing Model to Determine Grant-date Fair Value for Stock Options We have elected to use the Black-Scholes option pricing model to determine grant-date fair value for stock options, with the following assumptions: (i) expected share price volatility based on the average of Meridian’s historical volatility over the options’ expected lives and implied volatility based on the value of tradable call options; (ii) expected life of options based on contractual lives, employees’ historical exercise behavior and employees’ historical post-vesting employment termination behavior; (iii) risk-free interest rates based on treasury rates that correspond to the expected lives of the options; and (iv) dividend yield based on the expected yield on underlying Meridian common stock.
 
Year ended September 30,
   
2020
     2019     2018  
Risk-free interest rates
   
 
1.60
% 
     2.99 %
 
     2.10 % 
Dividend yield
   
 
0
% 
     3.3 %
 
     3.3 % 
Life of option
   
 
6.51 yrs.
 
     6.51 yrs.       6.47 yrs.  
Share price volatility
   
 
34
% 
     29 %
 
     30 % 
Forfeitures (by employee group)
   
 
0%-16%
 
    
0%-16%
      
0%-16%
  
Summary of Stock Option Plans
A summary of the status of our stock option plans as of September 30, 2020 and changes during the year ended September 30, 2020, is presented in the table and narrative below:
 
     Options      Wtd Avg
Exercise
Price		      Wtd Avg
Remaining
Life (Yrs)		      Aggregate
Intrinsic
Value		  
Outstanding beginning of period
      990    $ 17.36      
Grants
      367      10.07      
Exercises
      (203 )       17.83      
Forfeitures
      (2 )       14.74      
Cancellations
      (49 )       21.62      
Outstanding end of period
      1,103    $ 14.67      6.89    $ 3,483
  
 
 
     
 
 
     
 
 
     
 
 
  
Exercisable end of period
      674    $ 16.86      5.80    $   
984
  
  
 
 
     
 
 
     
 
 
     
 
 
  
Summary of Nonvested Options
A summary of the status of our nonvested options as of September 30, 2020, and changes during the year ended September 30, 2020, is presented below:
 
     Options      Weighted-
Average
Grant Date
Fair Value		  
Nonvested beginning of period
      209    $ 3.24
Granted
      367      3.54
Vested
      (145 )       3.64
Forfeitures
      (2 )       3.11
  
 
 
     
 
 
  
Nonvested end of period
      429    $ 3.36