Net Income Per Common Share (Tables)

9 Months Ended

Jun. 30, 2021

Information regarding the calculation of basic and diluted net income per common share for the three and nine months ended June 30, 2021 and 2020 is as follows (dollars in thousands, except per share amounts):


	Three Months Ended June 30,				Nine Months Ended June 30,
	2021		2020		2021		2020
Basic net income per common share computation
Numerator – net income	$	7,024	$	6,211	$	21,565	$	17,912





Denominator – weighted average common shares outstanding	8,365,350		8,309,947		8,336,590		8,331,908

Basic net income per common share	$	0.84	$	0.75	$	2.59	$	2.15

Diluted net income per common share computation
Numerator – net income	$	7,024	$	6,211	$	21,565	$	17,912





Denominator – weighted average common shares outstanding	8,365,350		8,309,947		8,336,590		8,331,908
Effect of dilutive stock options (1)	100,043		69,036		104,271		105,122

Weighted average common shares outstanding - assuming dilution	8,465,393		8,378,983		8,440,861		8,437,030

Diluted net income per common share	$	0.83	$	0.74	$	2.55	$	2.12

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(1) For the three and nine months ended June 30, 2021, average options to purchase 134,365 and 135,876 shares of common stock, respectively, were outstanding but not included in the computation of diluted net income per share, because their effect would have been anti-dilutive. For the three and nine months ended June 30, 2020, average options to purchase 135,212 and 126,052 shares of common stock, respectively, were outstanding but not included in the computation of diluted net income per shares, because their effect would have been anti-dilutive.