Net Income Per Common Share (Tables)

9 Months Ended

Jun. 30, 2024

Information regarding the calculation of basic and diluted net income per common share for the three and nine months ended June 30, 2024 and 2023 is as follows (dollars in thousands, except per share amounts):


	Three Months Ended June 30,				Nine Months Ended June 30,
	2024		2023		2024		2023
Basic net income per common share computation
Numerator – net income	$	5,924	$	6,306	$	17,928	$	20,476





Denominator – weighted average common shares outstanding	8,004,552		8,156,831		8,067,068		8,203,255

Basic net income per common share	$	0.74	$	0.77	$	2.22	$	2.50

Diluted net income per common share computation
Numerator – net income	$	5,924	$	6,306	$	17,928	$	20,476





Denominator – weighted average common shares outstanding	8,004,552		8,156,831		8,067,068		8,203,255
Effect of dilutive stock options (1)	34,793		57,144		41,975		75,824

Weighted average common shares outstanding - assuming dilution	8,039,345		8,213,975		8,109,043		8,279,079

Diluted net income per common share	$	0.74	$	0.77	$	2.21	$	2.47

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(1) For the three and nine months ended June 30, 2024, average options to purchase 240,820 and 233,081 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 nine months ended June 30, 2023, average options to purchase 256,503

and 203,823 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.