Year ended December 31,

2020

2019

2018

Numerator for basic and diluted earnings per common share:

Net income for the period

$

5,775

$

15,398

$

17,135

Denominator for basic and diluted earnings per common share:

Basic weighted average number of common shares outstanding

10,590,684

10,623,799

10,604,722

Effect of outstanding stock options

101,597

149,013

189,448

Diluted weighted average number of shares outstanding

10,692,281

10,772,812

10,794,170

Basic earnings per common share

$

0.55

$

1.45

$

1.62

Diluted earnings per common share

$

0.54

$

1.43

$

1.59