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EARNINGS PER COMMON SHARE
 6 Months Ended
Mar. 31, 2022
EARNINGS PER COMMON SHARE  
EARNINGS PER COMMON SHARE

3. EARNINGS PER COMMON SHARE

Basic earnings per common share is computed based on the weighted-average number of shares outstanding. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock options. For periods in which a loss is reported, the impact of stock options is not considered as the result would be antidilutive.

The computation of earnings per common share for the three and six months ended March 31, 2022 and 2021 follows. There were no stock options that were antidilutive for the three and six months ended March 31, 2022 and 2021.

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Three Months Ended March 31, 

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Six Months Ended March 31, 

(in thousands, except share and per share data)

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2022

    

2021

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2022

    

2021

Basic earnings per common share

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Net income

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$

5,860

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$

2,055

​

$

12,397

​

$

3,574

Weighted average common shares outstanding

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5,753,513

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4,193,682

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5,657,179

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4,187,239

Basic earnings per common share

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$

1.02

​

$

0.49

​

$

2.19

​

$

0.85

Diluted earnings per common share

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​

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Net income

​

$

5,860

​

$

2,055

​

$

12,397

​

$

3,574

Weighted average common shares outstanding for basic earnings per common share

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5,753,513

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4,193,682

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5,657,179

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4,187,239

Add: dilutive effects of assumed exercises of stock options

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96,329

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65,339

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96,108

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65,039

Average shares and dilutive potential common shares

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5,849,842

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4,259,021

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5,753,287

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4,252,278

Diluted earnings per common share

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$

1.00

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$

0.48

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$

2.15

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$

0.84

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