14. Earnings per share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

14. Earnings per share

For 2013, 2012 and 2011, earnings per share were computed as follows (in thousands, except per share amounts):

	Year Ended December 31,
	2013		2012		2011
Net income	$	4,935	$	3,621	$	4,676
Shares:
Basic:  Weighted average common shares outstanding		8,589		9,032		9,443
Add:  Dilutive effect of outstanding options as determined by the treasury stock method		114		89		160
Diluted:  Weighted average common and common equivalent shares outstanding		8,703		9,121		9,603
Net income per common share:
Basic	$	0.57	$	0.40	$	0.50
Diluted		0.57		0.40		0.49

We compute earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities.  Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends.

Certain stock-based awards were not included in the full year computation of earnings per diluted share because the effect would be anti-dilutive.  Anti-dilutive stock options, restricted shares and deferred stock units excluded from the computation of earnings per dilutive share were 311,000, 585,125, and 309,250, at December 31, 2013, 2012 and 2011 respectively.