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Net Income Per Common Share
 12 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Net Income Per Common Share
Net Income Per Common Share

Information regarding the calculation of basic and diluted net income per common share for the years ended September 30, 2015, 2014 and 2013 is as follows (dollars in thousands, except per share amounts):

 
2015

 
2014

 
2013

Basic net income per common share computation
 
 
 
 
 
Numerator - net income
$
8,292

 
$
5,850

 
$
4,757

Preferred stock dividends
—

 
(136
)
 
(710
)
Preferred stock discount accretion
—

 
(70
)
 
(283
)
Discount on redemption of preferred stock
—

 
—

 
255

Net income to common stockholders
$
8,292

 
$
5,644

 
$
4,019

 
 
 
 
 
 
  Denominator - weighted average common shares
    outstanding
6,897,270

 
6,856,730

 
6,817,918

 
 
 
 
 
 
Basic net income per common share
$
1.20

 
$
0.82

 
$
0.59

 
 
 
 
 
 
Diluted net income per common share computation
 

 
 

 
 

Numerator - net income
$
8,292

 
$
5,850

 
$
4,757

Preferred stock dividends
—

 
(136
)
 
(710
)
Preferred stock discount accretion
—

 
(70
)
 
(283
)
Discount on redemption of preferred stock
—

 
—

 
255

Net income to common stockholders
$
8,292

 
$
5,644

 
$
4,019

 
 
 
 
 
 
  Denominator - weighted average common shares
    outstanding
6,897,270

 
6,856,730

 
6,817,918

Effect of dilutive stock options
36,863

 
36,614

 
16,555

Effect of dilutive stock warrant
134,955

 
126,332

 
52,522

  Weighted average common shares outstanding-
    assuming dilution
7,069,088

 
7,019,676

 
6,886,995

 
 
 
 
 
 
Diluted net income per common share
$
1.17

 
$
0.80

 
$
0.58



For the years ended September 30, 2015, 2014 and 2013, average options to purchase 155,152, 131,489 and 109,953 shares of common stock, respectively, were outstanding but not included in the computation of diluted net income per common share because their effect would have been anti-dilutive.