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Stock Plans And Stock Based Compensation (Tables)

3 Months Ended

Dec. 31, 2014

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

Activity under the plans for the three months ended December 31, 2014 and 2013 is as follows:



	Three Months Ended December 31, 2014				Three Months Ended December 31, 2013
	Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
Options outstanding, beginning of period	221,400		$	7.49	162,946		$	6.96
Exercised	(5,300	)	4.62		(2,600	)	4.59
Granted	—		—		106,000		9.00
Forfeited	(200	)	4.55		—		—
Options outstanding, end of period	215,900		$	7.57	266,346		$	7.10

Options exercisable, end of period	69,500		$	6.18	83,946		$	8.09

Schedule of Fair Value Assumptions

The weighted average assumptions used for options granted during the three months ended December 31, 2013 were:



	2013
Expected volatility	39		%
Expected term (in years)	5
Expected dividend yield	2.56		%
Risk free interest rate	1.35		%
Grant date fair value per share	$	2.52

Schedule of Compensation Expense by Plan

Compensation expense during the three months ended December 31, 2014 and 2013 for all stock-based plans were as follows:



	Three Months Ended December 31,
	2014				2013
	(in thousands)
	Stock Options		Stock Grants		Stock Options		Stock Grants
Compensation expense	$	28	$	—	$	22	$	2
Related tax benefit recognized	$	2	$	—	$	—	$	—

Schedule of Unrecognized Compensation Expense for Share-based Awards

As of December 31, 2014, the compensation expense yet to be recognized for stock options that have been awarded but not vested for the years ending September 30 is as follows (in thousands):



	Stock Options
Remainder of 2015	$	79
2016	106
2017	98
2018	67
2019	9
Total	$	359

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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