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Net Income per Common Share
 12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Net Income per Common Share
Net Income per Common Share

Net income per common share is computed based on the weighted average number of common shares outstanding during the period. Diluted net income per common share is computed similarly but includes the effect of the assumed exercise of dilutive stock options and restricted stock under the treasury stock method.

The computation of basic and diluted net income per common share is as follows:
 
December 31,
 
2012
 
2011
Net income
$
8,190,000

 
$
10,526,000

 
 
 
 
Weighted average common shares outstanding — basic
7,104,000

 
6,954,000

Effect of dilutive securities
275,000

 
346,000

Weighted average common and potentially issuable common shares outstanding — diluted
7,379,000

 
7,300,000

 
 
 
 
Basic net income per common share
$
1.15

 
$
1.51

Diluted net income per common share
$
1.11

 
$
1.44



At December 31, 2011 there were 23,000 unexercised stock options that were not included in diluted earnings per share.