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Income Per Share of Common Stock
 3 Months Ended
Mar. 31, 2014
Income Per Share of Common Stock  
Income Per Share of Common Stock

5.              Income Per Share of Common Stock

 

The following table sets forth the computation of basic and diluted income per common share (in thousands, except per share amounts):

 

 

 

Quarter Ended
March 31,

 

 

 

2014

 

2013

 

Net income for basic and diluted income per common share

 

$

4,492

 

$

2,757

 

Weighted-average shares for basic income per common share

 

5,576

 

5,558

 

Effect of dilutive securities:

 

 

 

 

 

Employee and director stock options (1)

 

10

 

10

 

Adjusted weighted-average shares and assumed exercises for diluted income per common share

 

5,586

 

5,568

 

Basic net income per common share

 

$

0.81

 

$

0.50

 

Diluted net income per common share

 

$

0.80

 

$

0.50

 

 

(1)  Excludes 15 and 10 stock options for the quarters ended March 31, 2014 and 2013, respectively, as anti-dilutive because the exercise price exceeded the average per share market price for the periods presented.