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EARNINGS PER SHARE
 3 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE D - EARNINGS PER SHARE

 

The following table presents a calculation of basic and diluted earnings per share for the three months ended December 31, 2024 and 2023. Basic and diluted earnings per share were calculated by dividing net income by the weighted-average number of shares outstanding for the periods.

   Three Months 
   Ended December 31, 
   2024   2023 
   (Dollars in thousands, except share and per share data) 
         
Income applicable to common shares  $2,085   $1,652 
Weighted average common shares outstanding- basic and diluted   6,232,069    6,387,010 
Earnings per share - basic and diluted  $0.34   $0.26 

 

Options to purchase 291,200 shares of common stock at a weighted average strike price of $12.58 and 93,240 shares of restricted shares at a weighted average price of $12.63 were outstanding at December 31, 2024 and included in the calculation of diluted earnings per share. Options to purchase 293,200 shares of common stock at a weighted average strike price of $12.58 and 124,300 shares of restricted shares at a weighted average price of $12.63 were outstanding at December 31, 2023 but were not included in the calculation of diluted EPS because they were anti-dilutive.