Net Income per Common Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Net Income per Common Share

Net Income per Common Share

Net income per common share is computed based on the weighted average number of common shares outstanding during the period. Diluted net income per common share is computed similarly but includes the effect of the assumed exercise of dilutive stock options and restricted stock under the treasury stock method.

The computation of basic and diluted net income per common share is as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2012		2011		2012		2011
Net income	$	1,151,000	$	2,856,000	$	6,127,000	$	7,967,000
Weighted average common shares outstanding — basic	7,127,000		6,976,000		7,094,000		6,926,000
Effect of dilutive securities	256,000		302,000		287,000		358,000
Weighted average common and potentially issuable common shares outstanding — diluted	7,383,000		7,278,000		7,381,000		7,284,000
Basic net income per common share	$	0.16	$	0.41	$	0.86	$	1.15
Diluted net income per common share	$	0.16	$	0.39	$	0.83	$	1.09