Net income (numerator)

$

1,430,000

$

503,000

$

3,128,000

$

2,718,000

Shares (denominator):

Basic weighted average common shares outstanding

11,781,071

12,615,187

11,974,336

12,834,505

Add: dilutive effect of common stock options

-

73,194

-

75,365

Diluted weighted average common shares outstanding

11,781,071

12,688,381

11,974,336

12,909,870

Earnings per common share:

Basic

$

0.12

$

0.04

$

0.26

$

0.21

Diluted

$

0.12

$

0.04

$

0.26

$

0.21