Net Income Per Common Share (Tables)

9 Months Ended

Jun. 30, 2025

Information regarding the calculation of basic and diluted net income per common share for the three and nine months ended June 30, 2025 and 2024 is as follows (dollars in thousands, except per share amounts):


	Three Months Ended June 30,				Nine Months Ended June 30,
	2025		2024		2025		2024
Basic net income per common share computation
Numerator – net income	$	7,100	$	5,924	$	20,715	$	17,928





Denominator – weighted average common shares outstanding	7,893,308		8,004,552		7,929,626		8,067,068

Basic net income per common share	$	0.90	$	0.74	$	2.61	$	2.22

Diluted net income per common share computation
Numerator – net income	$	7,100	$	5,924	$	20,715	$	17,928





Denominator – weighted average common shares outstanding	7,893,308		8,004,552		7,929,626		8,067,068
Effect of dilutive stock options (1)	28,454		34,793		33,786		41,975

Weighted average common shares outstanding - assuming dilution	7,921,762		8,039,345		7,963,412		8,109,043

Diluted net income per common share	$	0.90	$	0.74	$	2.60	$	2.21

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(1) For the three and nine months ended June 30, 2025, average options to purchase 137,720 and 120,049 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, 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.