Stock-based compensation (Tables)

6 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of stock-based compensation expense

A summary of the expense related to stock-based compensation by award type is as follows for the periods presented:

	Three Months Ended March 31,						Six Months Ended March 31,
(In thousands)	2018			2017			2018			2017
Stock options expense	$	73		$	55		$	133		$	162
Restricted stock awards expense	2,525			2,286			5,075			4,355
Before tax stock-based compensation expense	2,598			2,341			5,208			4,517
Tax benefit	(659		)	(833		)	(1,321		)	(1,607		)
After tax stock-based compensation expense	$	1,939		$	1,508		$	3,887		$	2,910

Summary of stock option valuation assumptions

Following are the assumptions used to value stock options granted, which derived the weighted average fair value shown, for the period presented:

	Six Months Ended
	March 31, 2018
Expected life of options	5.0 years
Expected volatility	44.71		%
Expected dividends	—
Weighted average risk-free interest rate	2.06		%
Weighted average fair value	$	8.49

Schedule of stock options and SSARs outstanding

Activity related to stock options for the periods presented is as follows:

	Three Months Ended				Six Months Ended
	March 31, 2018				March 31, 2018
	Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
Outstanding at beginning of period	556,159		$	14.11	593,753		$	14.76
Granted	—		—		23,680		20.46
Exercised	—		—		(1,666	)	7.56
Expired	—		—		(56,967	)	23.65
Forfeited	(5,900	)	7.48		(8,541	)	9.46
Outstanding at end of period	550,259		$	14.18	550,259		$	14.18
Exercisable at end of period	435,432		$	14.81	435,432		$	14.81
Vested or expected to vest in the future	550,222		$	14.18	550,222		$	14.18

Schedule of nonvested stock awards activity

Activity relating to restricted stock awards for the period presented is as follows:

	Six Months Ended March 31, 2018
	Performance-Based Restricted Stock				Time-Based Restricted Stock				Total Restricted Stock
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Beginning of period	668,766		$	15.72	872,181		$	16.47	1,540,947		$	16.14
Granted	165,085		22.40		211,165		20.20		376,250		21.17
Vested	—		—		(225,608	)	14.01		(225,608	)	14.01
Forfeited	(188,058	)	18.96		(15,685	)	16.35		(203,743	)	18.76
End of period	645,793		$	16.48	842,053		$	18.07	1,487,846		$	17.38