Net income (numerator)

$

1,644,000

$

1,146,000

$

2,220,000

$

1,698,000

Shares (denominator):

Basic weighted average common shares outstanding

11,137,066

11,997,443

11,281,739

12,072,571

Add: dilutive effect of common stock options

85,090

16,402

93,962

30,848

Diluted weighted average common shares outstanding

11,226,341

12,013,845

11,375,701

12,103,419

Earnings per common share:

Basic

$

0.15

$

0.10

$

0.20

$

0.14

Diluted

$

0.15

$

0.10

$

0.20

$

0.14