Net Income Per Common Share (Tables)

6 Months Ended

Mar. 31, 2025

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,
	2025		2024		2025		2024
Basic net income per common share computation
Numerator – net income	$	6,755	$	5,708	$	13,615	$	12,004





Denominator – weighted average common shares outstanding	7,937,063		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 outstanding	7,937,063		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 dilution	7,968,632		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.