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Earnings Per Share | 6 Months Ended
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Mar. 31, 2022
Earnings Per Share [Abstract] |
Earnings Per Share | Note 12: Earnings Per Share Net income per share is calculated using the weighted average number of shares of common stock outstanding during the applicable period. Basic weighted average common shares outstanding do not include shares of restricted stock that have not yet vested, although such shares are included as outstanding shares in the Company’s Consolidated Balance Sheet. Diluted net income per share is computed using the weighted average number of common shares outstanding and if dilutive, potential common shares outstanding during the period. Potential common shares consist of the additional common shares issuable in respect of restricted share awards, stock options and convertible preferred stock. Preferred stock dividends are subtracted from net earnings to determine the amount available to common stockholders. The following table presents the computation of basic and diluted net earnings per share (in $000's):
|  | Three Months Ended March 31, |  |  | For the Six Months Ended March 31, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Basic |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 15,358 |  |  | $ | 8,734 |  |  | $ | 21,904 |  |  | $ | 14,147 |
Less: preferred stock dividends |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income applicable to common stock |  | $ | 15,358 |  |  | $ | 8,734 |  |  | $ | 21,904 |  |  | $ | 14,147 |
Weighted average common shares outstanding |  |  | 3,134,540 |  |  |  | 1,555,175 |  |  |  | 3,148,059 |  |  |  | 1,534,287 |
Basic earnings per share |  | $ | 4.90 |  |  | $ | 5.62 |  |  | $ | 6.96 |  |  | $ | 9.22 |
Diluted |  |  |  |  |  |  |  |  |  |  |  |
Net income applicable to common stock |  | $ | 15,358 |  |  | $ | 8,734 |  |  | $ | 21,904 |  |  | $ | 14,147 |
Add: preferred stock dividends |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income applicable for diluted earnings per share |  | $ | 15,358 |  |  | $ | 8,734 |  |  | $ | 21,904 |  |  | $ | 14,147 |
Weighted average common shares outstanding |  |  | 3,134,540 |  |  |  | 1,555,175 |  |  |  | 3,148,059 |  |  |  | 1,534,287 |
Add: Options |  |  | 38,102 |  |  |  | 87,168 |  |  |  | 38,825 |  |  |  | 87,168 |
Add: Series B Preferred Stock |  |  | — |  |  |  | 1,593,950 |  |  |  | — |  |  |  | 1,593,950 |
Add: Series E Preferred Stock |  |  | 239 |  |  |  | 47,840 |  |  |  | 239 |  |  |  | 47,840 |
Assumed weighted average common shares outstanding |  |  | 3,172,881 |  |  |  | 3,284,133 |  |  |  | 3,187,124 |  |  |  | 3,263,245 |
Diluted earnings per share |  | $ | 4.84 |  |  | $ | 2.66 |  |  | $ | 6.87 |  |  | $ | 4.34 |
There are 0 and 33,250 options to purchase shares of common stock that are anti-dilutive, and are not included in the six months ended March 31, 2022 and 2021, diluted earnings per share computations, respectively.

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