Annual report pursuant to section 13 and 15(d)

Treasury Stock

v2.4.0.6
Treasury Stock
 12 Months Ended
Sep. 30, 2012
Treasury Stock [Abstract]  
Treasury Stock

Note 11. Treasury Stock

Effective November 1, 2008, the Company's Board of Directors authorized the repurchase of up to 350,000 shares of the Company's common stock through November 1, 2013 for the purpose of funding restricted stock grants under its 2008 Plan, which was approved by shareholders on February 20, 2009. The stock repurchases began in November 2008 and can be made on a quarterly basis until November 1, 2013, through open market transactions at times and in such amounts as the Company's broker determines subject to the provisions of SEC Rule 10b-18.

The following table provides information relating to purchases of the Company's common shares on the open market pursuant to the 2008 Plan for the following fiscal years:

 

                 

Fiscal period ended

 

  

Total
number of
shares
purchased

 

  

Average price
paid  per
share

 

  

Total shares
purchased
as part of
publicly
announced
plan or
program

 

  

Total dollar
value of
shares
purchased

 
    (Dollars in thousands, except share data)
September 30, 2012         12,332     $ 24.12       181,316     $ 298  
September 30, 2011         48,280     $ 24.96       168,984     $ 1,205  
September 30, 2010         23,466     $ 26.74       120,704     $ 628  

The following table outlines the Company's treasury stock transactions during the past two fiscal years:

 

   

Shares

 

  

Cost

 
    (Dollars in thousands, except share data)
Balance September 30, 2010       7,466     $ 172  
Purchases       48,280       1,205  
Issuances       (19,030 )     (465 )
Retired       (2,123 )     (50 )
                   
Balance September 30, 2011       34,593       862  
Purchases       12,332       298  
Issuances       (23,690 )     (617 )
                   
Balance September 30, 2012       23,235     $ 543