Income Per Share of Common Stock (Tables)

6 Months Ended

Jun. 30, 2014

Income Per Share of Common Stock

Schedule of computation of basic and diluted income per common share

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

	Three Months Ended June 30,			Six Months Ended June 30,
	2014		2013	2014		2013
Net income for basic and diluted income per common share	$	5,718	4,626	$	10,210	7,382
Weighted-average shares for basic income per share	5,578		5,560	5,577		5,559
Effect of dilutive securities:
Employee and director stock options (1)	11		9	11		9
Adjusted weighted-average shares and assumed exercises for diluted income per share	5,589		5,569	5,588		5,568
Basic net income per common share	$	1.03	0.83	$	1.83	1.33
Diluted net income per common share	$	1.02	0.83	$	1.83	1.33

(1)  Excludes 15.0 and 9.9 stock options for the 2014 and 2013 periods, respectively, as anti-dilutive because the exercise price exceeded the average per share market price for the periods presented.