2.	Common Stock and Basic Earnings Per Share

Basic earnings per share for the three months ended September 30, 2013 and 2012 were based on weighted average shares outstanding of 12,911,795 and 12,861,011, respectively.

Basic earnings per share for the nine months ended September 30, 2013 and 2012 were based on weighted average shares outstanding of 12,921,440 and 12,831,653, respectively.

Since the Company has no common stock equivalents outstanding, there are no diluted earnings per share.

On March 11, 2013, the Board of Directors authorized a share repurchase program granting the Company authority to repurchase up to 1,200,000 shares of the Company's common stock from time to time. Under the stock repurchase program, the Company may repurchase shares in the open market or through privately negotiated transactions. The Company may suspend or discontinue the repurchase program at any time. During the three months ended September 30, 2013, the Company repurchased and retired 1,362 shares. During the nine months ended September 30, 2013, the Company repurchased and retired 94,414 shares. As of September 30, 2013, 1,105,586 shares remain available for repurchase.