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Stock Compensation Plans (Tables)
12 Months Ended
Sep. 30, 2014
Share-based Compensation [Abstract]  
Schedule of Stock Option Activity
tock option activity for the years ended September 30, 2014, 2013 and 2012 is summarized as follows:
 
Number of
Shares

 
Weighted Average
Exercise Price

Outstanding September 30, 2011
137,726

 
$
9.25

Options granted
76,000

 
5.04

Options forfeited
(18,100
)
 
5.44

Outstanding September 30, 2012
195,626

 
7.97

 


 
 
Options granted
29,000

 
6.00

Options forfeited
(61,680
)
 
9.69

Outstanding September 30, 2013
162,946

 
6.96

 


 
 
Options granted
135,000

 
9.29

Options exercised
(5,000
)
 
4.66

Options forfeited
(71,546
)
 
9.87

Outstanding September 30, 2014
221,400

 
$
7.49

Schedule of Fair Value Assumptions
The weighted average assumptions for options granted during the years ended September 30, 2014, 2013 and 2012 were as follows:

 
2014

 
2013

 
2012

Expected volatility
39
%
 
45
%
 
45
%
Expected term (in years)
5

 
5

 
5

Expected dividend yield
2.51
%
 
%
 
%
Risk free interest rate
1.41
%
 
0.76
%
 
0.76
%
Grant date fair value per share
$
2.59

 
$
2.37

 
$
1.97

Schedule of Stock Option Plans, by Exercise Price Range
Additional information regarding options outstanding at September 30, 2014, is as follows:

 
 
Options Outstanding
 
Options Exercisable
Range of
Exercise
Prices ($)
 
Number

 
Weighted
Average
Exercise
Price

 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Number

 
Weighted
Average
Exercise
Price

 
Weighted
Average
Remaining
Contractual
Life (Years)
$ 4.01 - 4.55
 
37,700

 
$
4.26

 
6.2
 
23,600

 
$
4.34

 
5.9
   5.86 - 6.00
 
61,700

 
5.92

 
8.0
 
20,200

 
5.90

 
8.0
   9.00
 
96,000

 
9.00

 
9.1
 

 
n/a

 
n/a
 10.26 - 10.59
 
26,000

 
10.34

 
9.3
 

 
n/a

 
n/a
 
 
221,400

 
$
7.49

 
8.3
 
43,800

 
$
5.06

 
6.9
Summary of MRDP Shares Vested
A summary of MRDP shares vested for the years ended September 30, 2014, 2013 and 2012 were as follows:

 
2014

 
2013

 
2012

Shares vested
3,254

 
6,207

 
10,831

Aggregate vesting date fair value
$
30,000

 
$
38,000

 
$
46,000

Summary of MRDP Shares Unvested
A summary of unvested MRDP shares as of September 30, 2014 and changes during the year ended September 30, 2014, were as follows:

 
Shares

 
Weighted Average
Grant Date
Fair Value

Unvested shares, beginning of period
3,254

 
$
7.01

Shares vested
3,254

 
7.01

 
 
 
 
Unvested shares, end of period

 
$

Schedule of Compensation Expense by Plan
Compensation expense recorded in the consolidated financial statements for all stock-based plans was as follows for the years ended September 30, 2014, 2013 and 2012 (dollars in thousands):

 
2014

 
2013

 
2012

Stock options
$
112

 
$
49

 
$
15

MRDP stock grants
2

 
39

 
105

Less: related tax benefit recognized
(10
)
 
(8
)
 
(28
)
 
$
104

 
$
80

 
$
92

Schedule of Compensation Expense to be Recognized in Future Periods
The compensation expense to be recognized in the future years ending September 30 for stock options that had been awarded as of September 30, 2014 is as follows (in thousands):

2015
$
106

2016
106

2017
98

2018
67

2019
9

 
$
386