XML 17 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Earnings Per Share
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
A reconciliation of the numerators and denominators for earnings per common share computations for the three and nine months ended September 30, 2016 and 2015 is presented below. Common shares, options, and per share amounts for all periods shown have been restated to reflect the impact of the 1:30 reverse stock split the Company completed effective May 29, 2015. Options to purchase 498 and 3,488 shares of common stock were outstanding for September 30, 2016 and 2015, respectively; but were not included in the computation of diluted earnings per share because the exercise price was greater than the average market price and, therefore, were anti-dilutive. Of the 33,321 shares of restricted stock units issued, 3,190 shares and 1,554 shares were considered dilutive for the three and nine month periods ended September 30, 2016, respectively.
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Basic Earnings Per Common Share
 
 
 
 
 
 
 
Net income
$
1,055

 
$
1,088

 
$
4,101

 
$
4,008

Preferred stock dividends
(82
)
 
(395
)
 
(247
)
 
(1,401
)
Discount on redemption of preferred stock
—

 
—

 
—

 
13,668

Net income for common shareholders
$
973

 
$
693

 
$
3,854

 
$
16,275

Weighted average common shares outstanding
6,513,694

 
6,485,218

 
6,513,694

 
4,420,000

Basic earnings per common share
$
0.15

 
$
0.11

 
$
0.59

 
$
3.68

Diluted Earnings Per Common Share
 
 
 
 
 
 
 
Weighted average common shares outstanding
6,513,694

 
6,485,218

 
6,513,694

 
4,420,000

Add: dilutive effect of restricted stock units
3,190

 
—

 
1,554

 
—

Weighted average common and dilutive
 
 
 
 
 
 
 
potential shares outstanding
6,516,884

 
6,485,218

 
6,515,248

 
4,420,000

Diluted earnings per common share
$
0.15

 
$
0.11

 
$
0.59

 
$
3.68