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Income Per Share of Common Stock (Tables)
 3 Months Ended
Mar. 31, 2018
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 March 31,

 

 

    

2018

    

2017

    

Net income for basic and diluted income per common share

 

$

4,262

 

$

4,620

 

Weighted-average shares for basic income per common share

 

 

5,590

 

 

5,576

 

Effect of dilutive securities:

 

 

 

 

 

 

 

Employee and director stock options(1)

 

 

 8

 

 

 9

 

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

 

 

5,598

 

 

5,585

 

Basic net income per common share

 

$

0.76

 

$

0.83

 

Diluted net income per common share

 

$

0.76

 

$

0.83

 

(1)

Excludes 17.4 stock options for the 2018 period as anti-dilutive because the exercise price exceeded the average per share market price for the period.