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Stock Compensation Plans (Tables) | 6 Months Ended
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Mar. 31, 2023
Share-based Payment Arrangement, Noncash Expense [Abstract] |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | Stock option activity for the six months ended March 31, 2023 and 2022 is summarized as follows:
| Six Months Ended March 31, 2023 |  | Six Months Ended March 31, 2022
| Number of Shares |  | Weighted Average Exercise Price |  | Number of Shares |  | Weighted Average Exercise Price
Options outstanding, beginning of period | 421,925 |  |  | $ | 23.30 |  |  | 406,815 |  |  | $ | 21.62 |
Exercised | (26,055) |  |  | 19.88 |  |  | (27,470) |  |  | 12.09 |
Granted | 1,000 |  |  | 33.40 |  |  | 1,000 |  |  | 27.25 |
Forfeited | (4,600) |  |  | 27.38 |  |  | (17,170) |  |  | 25.91 |
Options outstanding, end of period | 392,270 |  |  | $ | 23.50 |  |  | 363,175 |  |  | $ | 22.15 |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | The weighted average assumptions for options granted during the six months ended March 31, 2023 were as follows:
Expected volatility | 33 | %
Expected life (in years) | 5
Expected dividend yield | 2.99 | %
Risk free interest rate | 3.58 | %
Grant date fair value per share | $ | 8.65 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | Additional information regarding options outstanding at March 31, 2023 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)
9.00 |  |  |  | 14,000 |  |  | $ | 9.00 |  |  | 0.6 |  | 14,000 |  |  | $ | 9.00 |  |  | 0.6
10.26 | - | 10.71 |  | 45,000 |  |  | 10.55 |  |  | 1.9 |  | 45,000 |  |  | 10.55 |  |  | 1.9
15.67 | - | 19.13 |  | 75,500 |  |  | 16.54 |  |  | 6.3 |  | 38,810 |  |  | 16.19 |  |  | 5.2
26.50 | - | 27.40 |  | 108,820 |  |  | 27.31 |  |  | 8.5 |  | 20,740 |  |  | 27.14 |  |  | 6.5
28.23 | - | 29.69 |  | 113,150 |  |  | 28.78 |  |  | 7.0 |  | 55,950 |  |  | 29.35 |  |  | 5.4
31.80 | - | 33.40 |  | 35,800 |  |  | 31.84 |  |  | 5.6 |  | 27,860 |  |  | 31.80 |  |  | 5.5
|  |  |  | 392,270 |  |  | $ | 23.50 |  |  | 6.3 |  | 202,360 |  |  | $ | 21.35 |  |  | 4.4

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- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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