Net Income Per Common Share (Tables)

6 Months Ended

Mar. 31, 2022

Information regarding the calculation of basic and diluted net income per common share for the three and six months ended March 31, 2022 and 2021 is as follows (dollars in thousands, except per share amounts):


	Three Months Ended March 31,				Six Months Ended March 31,
	2022		2021		2022		2021
Basic net income per common share computation
Numerator – net income	$	5,327	$	7,251	$	10,812	$	14,541





Denominator – weighted average common shares outstanding	8,337,407		8,331,121		8,346,839		8,322,210

Basic net income per common share	$	0.64	$	0.87	$	1.30	$	1.75

Diluted net income per common share computation
Numerator – net income	$	5,327	$	7,251	$	10,812	$	14,541





Denominator – weighted average common shares outstanding	8,337,407		8,331,121		8,346,839		8,322,210
Effect of dilutive stock options (1)	84,468		113,677		88,697		106,385

Weighted average common shares outstanding - assuming dilution	8,421,875		8,444,798		8,435,536		8,428,595

Diluted net income per common share	$	0.63	$	0.86	$	1.28	$	1.73

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(1) For the three and six months ended March 31, 2022, average options to purchase 204,398 and 207,256 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. For the three and six months ended March 31, 2021, average options to purchase 135,590 and 136,631 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.