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EARNINGS PER SHARE
 9 Months Ended
Jun. 30, 2025
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 and nine months ended June 30, 2025 and 2024. 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   Nine Months 
   Ended June 30,   Ended June 30, 
   2025   2024   2025   2024 
   (Dollars in thousands, except share and per share data) 
                 
Income applicable to common shares  $2,470   $1,691   $7,235   $5,240 
Weighted average shares outstanding - basic   6,217,639    6,336,702    6,224,253    6,358,581 
Weighted average shares outstanding - diluted   6,232,247    6,336,702    6,232,173    6,358,581 
Earnings per share - basic  $0.40   $0.27   $1.16   $0.82 
Earnings per share - diluted  $0.40   $0.27   $1.16   $0.82 

 

Options to purchase 281,200 shares of common stock at a weighted average strike price of $12.58 and 87,240 shares of restricted shares at a weighted average price of $12.62 were outstanding at June 30, 2025 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 124,320 shares of restricted shares at a weighted average price of $12.63 were outstanding at June 30, 2024 but were not included in the calculation of diluted EPS because they were anti-dilutive.