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Stock Compensation Plans (Tables)

12 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Stock Option Activity

Stock option activity for the years ended September 30, 2019, 2018 and 2017 is summarized as follows:

	Number of Shares			Weighted Average Exercise Price
Outstanding September 30, 2016	373,130			$	9.82
Options granted	58,250			29.69
Options exercised	(46,310	)		7.17
Options forfeited	(4,950	)		6.28
Outstanding September 30, 2017	380,120			13.23
Options granted	45,950			31.80
Options exercised	(40,100	)		7.92
Options forfeited	(5,150	)		13.39
Outstanding September 30, 2018	380,820			16.03
Options granted	46,840			27.14
Options exercised	(43,856	)		9.14
Options forfeited	(5,500	)		19.89
Outstanding September 30, 2019	378,304			$	18.15

Schedule of Fair Value Assumptions

The weighted average assumptions for options granted during the years ended September 30, 2019, 2018 and 2017 were as follows:

	2019				2018				2017
Expected volatility	29		%		17		%		16		%
Expected life (in years)	5				5				5
Expected dividend yield	3.28		%		2.61		%		1.85		%
Risk free interest rate	1.53		%		2.97		%		1.89		%
Grant date fair value per share	$	5.12			$	4.48			$	3.84

Schedule of Stock Option Plans, by Exercise Price Range

Additional information regarding options outstanding at September 30, 2019 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		2,500			$	4.33			0.9		2,500			$	4.33			0.9
5.86 - 6.00		19,100			5.97				3.1		19,100			5.97				3.1
9.00		49,975			9.00				4.1		49,975			9.00				4.1
10.26 - 10.71		110,839			10.58				5.5		87,589			10.57				5.5
15.67		48,000			15.67				7.0		27,000			15.67				7.0
27.14		46,840			27.14				10.0		—			N/A				N/A
29.69		55,600			29.69				8.0		22,300			29.69				8.0
31.80		45,450			31.80				9.0		9,090			31.80				9.0
		378,304			$	18.15			6.7		217,554			$	13.21			5.5

X

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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