XML 40 R27.htm IDEA: XBRL DOCUMENT v3.5.0.2
Net Income Per Common Share
 12 Months Ended
Sep. 30, 2016
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, 2016, 2015 and 2014 is as follows (dollars in thousands, except per share amounts):
 
2016

 
2015

 
2014

Basic net income per common share computation
 
 
 
 
 
Numerator - net income to common shareholders
$
10,154

 
$
8,292

 
$
5,644

 
 
 
 
 
 
  Denominator - weighted average common shares outstanding
6,842,614

 
6,897,270

 
6,856,730

 
 
 
 
 
 
Basic net income per common share
$
1.48

 
$
1.20

 
$
0.82

 
 
 
 
 
 
Diluted net income per common share computation
 

 
 

 
 

Numerator - net income to common shareholders
$
10,154

 
$
8,292

 
$
5,644

 
 
 
 
 
 
  Denominator - weighted average common shares outstanding
6,842,614

 
6,897,270

 
6,856,730

Effect of dilutive stock options
78,910

 
36,863

 
36,614

Effect of dilutive stock warrant
183,825

 
134,955

 
126,332

  Weighted average common shares outstanding-assuming dilution
7,105,349

 
7,069,088

 
7,019,676

 
 
 
 
 
 
Diluted net income per common share
$
1.43

 
$
1.17

 
$
0.80



For the years ended September 30, 2016, 2015 and 2014, average options to purchase 42,801, 155,152 and 131,489 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.