v3.26.1
Note 4 - Earnings Per Share
 9 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

4. Earnings Per Share

 

Basic earnings per share (EPS) is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed using the treasury stock method and reflects the potential dilution that could occur if the Company’s granted but unvested restricted stock units (RSUs) were to vest, resulting in the issuance of common stock that would then share in the earnings of the Company.

 

The following table presents the Company’s basic and diluted EPS for the three and nine months ended June 30, 2026 and 2025, dollars in thousands, except per share data:

 

   

Three months ended
June 30,

    

Nine months ended
June 30,

  
   

2026

    

2025

    

2026

    

2025

  

Net income

   $ 11,073       11,605       35,841       34,644  
                                 

Weighted average number of shares of common stock outstanding

     23,042,821       22,951,339       23,028,701       22,930,084  

Effect of dilutive securities

     220,584       360,596       213,183       317,232  

Weighted average number of shares of common stock outstanding including effect of dilutive securities

     23,263,405       23,311,935       23,241,884       23,247,316  
                                 

Basic earnings per share

   $ 0.48       0.51       1.56       1.51  

Diluted earnings per share

   $ 0.48       0.50       1.54       1.49  

 

There were 95,121 and no non-vested RSUs for the three months ended June 30, 2026 and 2025, respectively, and 126,880 and 32,096 non-vested RSUs for the nine months ended June 30, 2026 and 2025, respectively, excluded from the calculation of diluted EPS as they were antidilutive.