XML 107 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
EARNINGS (LOSS) PER COMMON SHARE
 3 Months Ended
Mar. 31, 2014
EARNINGS (LOSS) PER COMMON SHARE

NOTE 16 – EARNINGS (LOSS) PER COMMON SHARE

Basic earnings (loss) per common share (EPS) is computed by dividing net income (loss) available to common shareholders by the weighted average number of shares outstanding. Diluted EPS is computed by dividing net income (loss) available to common shareholders by the weighted average number of shares outstanding, adjusted for the dilutive effect of the outstanding stock options, restricted stock awards, and warrants to purchase common stock. Computations for basic and diluted EPS are provided below.

 

     Three months ended March 31,  
     2014     2013  
     Common
Stock		     Class B
Common
Stock		     Total     Common
Stock		      Class B
Common
Stock		      Total  
     ($ in thousands, except per share data)  

Basic:

               

Net (loss) income

    $ 735      $ 22      $ 757      $ 843       $ 86       $ 929   

Less: preferred stock dividends

      883        27        910        261         27         288   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Net (loss) income available to common shareholders

    $ (148 )    $ (5 )    $ (153 )    $ 582       $ 59       $ 641   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding

      19,609,017        590,008        20,199,025        10,809,008         1,112,188         11,921,196   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Basic (loss) earnings per common share

    $ (0.01 )    $ (0.01 )    $ (0.01 )    $ 0.05       $ 0.05       $ 0.05   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Diluted:

               

Net (loss) income available to common shareholders

    $ (148 )    $ (5 )    $ (153 )    $ 582       $ 59       $ 641   

Weighted average common shares outstanding for basic (loss) earnings per common share

      19,609,017        590,008        20,199,025        10,809,008         1,112,188         11,921,196   

Add: Dilutive effects of stock awards

      —          —          —          2,503         —           2,503   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Average shares and dilutive common shares

      19,609,017        590,008        20,199,025        10,811,511         1,112,188         11,923,699   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Diluted (loss) earnings per common share

    $ (0.01 )    $ (0.01 )    $ (0.01 )    $ 0.05       $ 0.05       $ 0.05   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

For the three months ended March 31, 2014 and 2013, there were 1,493,505 and 492,465 stock options, respectively, and 1,635,000 and 3,036,959 warrants, respectively, that were not considered in computing diluted earnings per common share, because they were anti-dilutive.