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EARNINGS PER COMMON SHARE | 6 Months Ended
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Mar. 31, 2020
Earnings Per Share [Abstract] |
EARNINGS PER COMMON SHARE | EARNINGS PER COMMON SHARE Earnings per common share is computed after deducting any preferred dividends, if applicable. The Company has granted restricted share awards with dividend rights that are considered to be participating securities. Accordingly, a portion of the Company’s earnings is allocated to those participating securities in the earnings per share calculation. Basic earnings per common share is computed by dividing income available to common stockholders after the allocation of dividends and undistributed earnings to the participating securities by the weighted average number of common shares outstanding for the period. Diluted earnings per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised, and is computed after giving consideration to the weighted average dilutive effect of the Company’s stock options and after the allocation of earnings to the participating securities. Antidilutive options are disregarded in earnings per share calculations. A reconciliation of net income and common stock share amounts used in the computation of basic and diluted earnings per share is presented below.
| Three Months Ended March 31, |  |
(Dollars in Thousands, Except Share and Per Share Data) | 2020 |  | 2019
Basic income per common share: |  |  |
Net income attributable to Meta Financial Group, Inc. | $ | 52,304 |  |  | $ | 32,120 |
Weighted average common shares outstanding | 35,948,799 |  |  | 39,429,595 |
Basic income per common share | $ | 1.45 |  |  | $ | 0.81 |
Diluted income per common share: |  |  |
Net income attributable to Meta Financial Group, Inc. | $ | 52,304 |  |  | $ | 32,120 |
Weighted average common shares outstanding | 35,948,799 |  |  | 39,429,595 |
Outstanding options - based upon the two-class method | 21,497 |  |  | 67,237 |
Weighted average diluted common shares outstanding | 35,970,296 |  |  | 39,496,832 |
Diluted income per common share | $ | 1.45 |  |  | $ | 0.81 |
| Six Months Ended March 31, |  |
(Dollars in Thousands, Except Share and Per Share Data) | 2020 |  | 2019
Basic income per common share: |  |  |
Net income attributable to Meta Financial Group, Inc. | $ | 73,372 |  |  | $ | 47,518 |
Weighted average common shares outstanding | 36,691,705 |  |  | 39,381,682 |
Basic income per common share | $ | 2.00 |  |  | $ | 1.21 |
Diluted income per common share: |  |  |
Net income attributable to Meta Financial Group, Inc. | $ | 73,372 |  |  | $ | 47,518 |
Weighted average common shares outstanding | 36,691,705 |  |  | 39,381,682 |
Outstanding options - based upon the two-class method | 21,634 |  |  | 68,581 |
Weighted average diluted common shares outstanding | 36,713,339 |  |  | 39,450,263 |
Diluted income per common share | $ | 2.00 |  |  | $ | 1.20 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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