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Income Per Share of Common Stock (Tables)
 6 Months Ended
Jun. 30, 2016
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,

 

 

 

    

2016

    

2015

    

2016

    

2015

    

 

Net income for basic and diluted income per common share

 

$
3,687

 

$
2,559

 

$
7,753

 

$
4,924

 

 

Weighted-average shares for basic income per common share

 

 
5,565

 

 
5,599

 

 
5,571

 

 
5,598

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employee and director stock options(1)

 

 
3

 

 
6

 

 
3

 

 
7

 

 

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

 

 
5,568

 

 
5,605

 

 
5,574

 

 
5,605

 

 

Basic net income per common share

 

$
0.66

 

$
0.46

 

$
1.39

 

$
0.88

 

 

Diluted net income per common share

 

$
0.66

 

$
0.46

 

$
1.39

 

$
0.88

 

 

(1)

Excludes 32.4 and 33.6 stock options for the three- and six-month periods 2016, respectively, and 17.4 stock options for each of the 2015 periods as anti-dilutive because the exercise price exceeded the average per share market price for the periods presented.