Net Income Per Common Share (Tables)

6 Months Ended

Mar. 31, 2024

Information regarding the calculation of basic and diluted net income per common share for the three and six months ended March 31, 2024 and 2023 is as follows (dollars in thousands, except per share amounts):


	Three Months Ended March 31,				Six Months Ended March 31,
	2024		2023		2023		2023
Basic net income per common share computation
Numerator – net income	$	5,708	$	6,663	$	12,004	$	14,169





Denominator – weighted average common shares outstanding	8,081,924		8,220,532		8,098,155		8,226,467

Basic net income per common share	$	0.71	$	0.81	$	1.48	$	1.72

Diluted net income per common share computation
Numerator – net income	$	5,708	$	6,663	$	12,004	$	14,169





Denominator – weighted average common shares outstanding	8,081,924		8,220,532		8,098,155		8,226,467
Effect of dilutive stock options (1)	39,185		83,838		45,546		85,163

Weighted average common shares outstanding - assuming dilution	8,121,109		8,304,370		8,143,701		8,311,630

Diluted net income per common share	$	0.70	$	0.80	$	1.47	$	1.70

____________________________________________

(1) For the three and six months ended March 31, 2024, average options to purchase 244,030 and 229,232 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, 2023, average options to purchase 176,867

and 177,484 shares of common stock, respectively, were outstanding but not included in the computation of diluted net income per common share because their effect would be anti-dilutive.