Net income (numerator)

$

1,244,000

$

1,644,000

$

1,857,000

$

2,220,000

Shares (denominator):

Basic weighted average common shares outstanding

10,501,865

11,137,066

10,407,287

11,281,739

Add: dilutive effect of common stock options

109,187

89,275

110,365

93,962

Diluted weighted average common shares outstanding

10,611,052

11,226,341

10,517,652

11,375,701

Earnings per common share:

Basic

$

0.12

$

0.15

$

0.18

$

0.20

Diluted

$

0.12

$

0.15

$

0.18

$

0.20