Stock-based compensation (Tables)

9 Months Ended

Jun. 30, 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 June 30,						Nine Months Ended June 30,
in thousands	2018			2017			2018			2017
Stock options expense	$	42		$	53		$	175		$	215
Restricted stock awards expense	2,442			2,757			7,517			7,112
Before tax stock-based compensation expense	2,484			2,810			7,692			7,327
Tax benefit	(630		)	(1,001		)	(1,951		)	(2,608		)
After tax stock-based compensation expense	$	1,854		$	1,809		$	5,741		$	4,719

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:

	Nine Months Ended
	June 30, 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				Nine Months Ended
	June 30, 2018				June 30, 2018
	Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
Outstanding at beginning of period	550,259		$	14.18	593,753		$	14.76
Granted	—		—		23,680		20.46
Exercised	(6,525	)	7.51		(8,191	)	7.52
Expired	(5,000	)	18.00		(61,967	)	23.19
Forfeited	(7,012	)	11.68		(15,553	)	10.46
Outstanding at end of period	531,722		$	14.26	531,722		$	14.26
Exercisable at end of period	475,672		$	14.06	475,672		$	14.06
Vested or expected to vest in the future	531,722		$	14.26	531,722		$	14.26

Schedule of nonvested stock awards activity

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

	Nine Months Ended June 30, 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		277,165		18.98		442,250		20.26
Vested	—		—		(277,611	)	15.07		(277,611	)	15.07
Forfeited	(188,058	)	18.96		(21,643	)	16.52		(209,701	)	18.71
End of period	645,793		$	16.48	850,092		$	17.75	1,495,885		$	17.20