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EARNINGS PER COMMON SHARE
 9 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE EARNINGS PER COMMON SHAREEarnings 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 June 30,
(Dollars in Thousands, Except Share and Per Share Data)20202019
Basic income per common share:
     Net income attributable to Meta Financial Group, Inc.
$18,190  $29,291  
Weighted average common shares outstanding
34,616,038  38,903,266  
     Basic income per common share
$0.53  $0.75  
Diluted income per common share:
     Net income attributable to Meta Financial Group, Inc.
$18,190  $29,291  
Weighted average common shares outstanding
34,616,038  38,903,266  
     Outstanding options - based upon the two-class method
7,076  74,424  
Weighted average diluted common shares outstanding
34,623,114  38,977,690  
     Diluted income per common share
$0.53  $0.75  

Nine Months Ended June 30,
(Dollars in Thousands, Except Share and Per Share Data)20202019
Basic income per common share:
     Net income attributable to Meta Financial Group, Inc.
$91,562  $76,809  
Weighted average common shares outstanding
36,004,877  39,220,793  
     Basic income per common share
$2.54  $1.96  
Diluted income per common share:
     Net income attributable to Meta Financial Group, Inc.
$91,562  $76,809  
Weighted average common shares outstanding
36,004,877  39,220,793  
     Outstanding options - based upon the two-class method
11,160  68,218  
Weighted average diluted common shares outstanding
36,016,037  39,289,011  
     Diluted income per common share
$2.54  $1.95