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Net Income Per Common Share
 6 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Net Income Per Common Share NET INCOME PER COMMON SHARE
Basic net income per common share is computed by dividing net income to common shareholders by the weighted average number of common shares outstanding during the period, without considering any dilutive items.  Nonvested shares of restricted stock are included in the computation of basic earnings per share because the holder has voting rights and shares in non-forfeitable dividends during the vesting period. Diluted net income per common share is computed by dividing net income to common shareholders by the weighted average number of common shares and common stock equivalents for items that are dilutive, net of shares assumed to be repurchased using the treasury stock method at the average share price for the Company’s common stock during the period.  Common stock equivalents arise from the assumed conversion of outstanding stock options.  

Information regarding the calculation of basic and diluted net income per common share for the three and six months ended March 31, 2025 and 2024 is as follows (dollars in thousands, except per share amounts):
 Three Months Ended March 31,Six Months Ended March 31,
2025202420252024
Basic net income per common share computation  
Numerator – net income $6,755 $5,708 $13,615 $12,004 
Denominator – weighted average common shares outstanding7,937,063 8,081,924 7,947,786 8,098,155 
Basic net income per common share$0.85 $0.71 $1.71 $1.48 
Diluted net income per common share computation  
Numerator – net income$6,755 $5,708 $13,615 $12,004 
Denominator – weighted average common shares outstanding7,937,063 8,081,924 7,947,786 8,098,155 
Effect of dilutive stock options (1)31,569 39,185 36,452 45,546 
Weighted average common shares outstanding - assuming dilution7,968,632 8,121,109 7,984,238 8,143,701 
Diluted net income per common share$0.85 $0.70 $1.71 $1.47 
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(1) For the three and six months ended March 31, 2025, average options to purchase 126,540 and 111,213 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, 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.