EX-99.2 3 bfin-20190630ex992suppleme.htm EXHIBIT 99.2 Exhibit

Exhibit 99.2



BANKFINANCIAL CORPORATION
SECOND QUARTER 2019
QUARTERLY FINANCIAL AND STATISTICAL SUPPLEMENT
FOR THE LATEST FIVE QUARTERS


Note: Certain reclassifications have been made in the prior period’s financial statements and reflected in the Selected Quarterly Financial and Statistical Data tables to conform to the current period’s presentation.
The information and statistical data contained herein have been prepared by BankFinancial Corporation and have been derived or calculated from selected quarterly and period–end historical financial statements prepared in accordance with accounting principles generally accepted in the United States. BankFinancial Corporation is under no obligation to update, keep current, or continue to provide the information contained herein. This information is provided solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or establish any business relationships with BankFinancial Corporation or its subsidiary.

BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters
(Dollars in thousands; except per share) – (Unaudited)


 
2019
 
2018
 
IIQ
 
IQ
 
IVQ
 
IIIQ
 
IIQ
PERFORMANCE MEASUREMENTS
 
 
 
 
 
 
 
 
 
Return on assets (ratio of net income to average total assets) (1)
0.21
%
 
0.91
%
 
1.92
%
 
0.97
%
 
1.18
%
Return on equity (ratio of net income to average equity) (1)
1.84

 
7.68

 
15.72

 
7.68

 
9.39

Net interest rate spread (1)
3.30

 
3.35

 
3.24

 
3.30

 
3.31

Net interest margin (1)
3.60

 
3.64

 
3.52

 
3.51

 
3.49

Efficiency ratio
65.19

 
68.03

 
51.22

 
64.84

 
63.55

Noninterest expense to average total assets (1)
2.48

 
2.60

 
2.88

 
2.45

 
2.61

Average interest–earning assets to average interest–bearing liabilities
131.66

 
131.53

 
133.35

 
133.23

 
133.62

Number of full service offices
19

 
19

 
19

 
19

 
19

Employees (full time equivalents) (2)
231

 
235

 
236

 
245

 
250

 
 
 
 
 
 
 
 
 
 
SUMMARY STATEMENT OF FINANCIAL CONDITION
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
Cash and due from other financial institutions
$
13,998

 
$
12,016

 
$
13,805

 
$
12,473

 
$
11,738

Interest-bearing deposits in other financial institutions
89,609

 
66,206

 
84,399

 
74,461

 
80,457

Securities, at fair value
87,080

 
83,240

 
88,179

 
103,921

 
112,452

Loans receivable, net
1,267,454

 
1,306,475

 
1,323,793

 
1,267,787

 
1,287,823

Other real estate owned, net
497

 
921

 
1,226

 
985

 
1,187

Stock in Federal Home Loan Bank and Federal Reserve Bank, at cost
7,490

 
8,026

 
8,026

 
8,026

 
8,311

Premises and equipment, net
24,923

 
24,992

 
25,205

 
24,473

 
24,441

Bank owned life insurance
18,877

 
18,839

 
18,809

 
18,781

 
18,746

Deferred taxes
4,816

 
5,023

 
6,235

 
8,911

 
10,199

Other assets
19,178

 
19,282

 
15,648

 
12,666

 
12,144

Total assets
$
1,533,922

 
$
1,545,020

 
$
1,585,325

 
$
1,532,484

 
$
1,567,498

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
Deposits
$
1,330,207

 
$
1,326,746

 
$
1,352,484

 
$
1,295,770

 
$
1,295,853

Borrowings
798

 
16,106

 
21,049

 
21,232

 
50,901

Other liabilities
31,426

 
25,948

 
24,642

 
23,399

 
26,516

Total liabilities
1,362,431

 
1,368,800

 
1,398,175

 
1,340,401

 
1,373,270

Stockholders’ equity
171,491

 
176,220

 
187,150

 
192,083

 
194,228

Total liabilities and stockholders’ equity
$
1,533,922

 
$
1,545,020

 
$
1,585,325

 
$
1,532,484

 
$
1,567,498

(1)Annualized
(2)
Second quarter 2018 full time equivalents employees include summer interns. These employees worked from May through August.


Page 2

BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters
(Dollars in thousands; except per share) – (Unaudited)


 
2019
 
2018
 
IIQ
 
IQ
 
IVQ
 
IIIQ
 
IIQ
SUMMARY STATEMENT OF OPERATIONS
 
 
 
 
 
 
 
 
Total interest income
$
16,522

 
$
16,526

 
$
16,146

 
$
15,373

 
$
15,020

Total interest expense
3,419

 
3,307

 
3,043

 
2,408

 
2,039

Net interest income before provision (recovery)
13,103

 
13,219

 
13,103

 
12,965

 
12,981

Provision for (recovery of) loan losses
3,957

 
(87
)
 
403

 
(23
)
 
23

Net interest income
9,146

 
13,306

 
12,700

 
12,988

 
12,958

Noninterest income
1,426

 
1,624

 
8,674

 
1,570

 
3,094

Noninterest expense
9,472

 
10,098

 
11,155

 
9,425

 
10,215

Income before income tax
1,100

 
4,832

 
10,219

 
5,133

 
5,837

Income tax expense
293

 
1,281

 
2,803

 
1,396

 
1,207

Net income
$
807

 
$
3,551

 
$
7,416

 
$
3,737

 
$
4,630

Basic earnings per common share
$
0.05

 
$
0.22

 
$
0.44

 
$
0.22

 
$
0.26

Diluted earnings per common share
$
0.05

 
$
0.22

 
$
0.44

 
$
0.22

 
$
0.26

 
 
 
 
 
 
 
 
 
 
NONINTEREST INCOME AND EXPENSE
 
 
 
 
 
 
 
 
 
Noninterest Income
 
 
 
 
 
 
 
 
 
Deposit service charges and fees
$
974

 
$
930

 
$
998

 
$
1,003

 
$
989

Loan fee income
56

 
23

 
208

 
71

 
90

Commercial mortgage brokerage fees
8

 

 

 
12

 
85

Residential mortgage banking fees
13

 
28

 
31

 
34

 
24

Gain (loss) on sales of equity securities

 
295

 
3,572

 

 
(14
)
Unrealized gain on equity securities

 

 
3,427

 

 

Loss on disposal of other assets

 
(19
)
 

 

 

Gain on sale of premises held-for-sale

 

 

 

 
93

Trust insurance commissions and annuities income
224

 
205

 
267

 
207

 
250

Earnings on bank owned life insurance
38

 
30

 
28

 
35

 
45

Bank-owned life insurance death benefit

 

 

 

 
1,389

Other
113

 
132

 
143

 
208

 
143

Total noninterest income
$
1,426

 
$
1,624

 
$
8,674

 
$
1,570

 
$
3,094

 
 
 
 
 
 
 
 
 
 
Noninterest Expense
 
 
 
 
 
 
 
 
 
Compensation and benefits
$
5,207

 
$
5,703

 
$
6,755

 
$
5,120

 
$
5,790

Office occupancy and equipment
1,621

 
1,845

 
1,795

 
1,629

 
1,662

Advertising and public relations
145

 
161

 
237

 
194

 
274

Information technology
736

 
692

 
726

 
717

 
708

Supplies, telephone, and postage
319

 
399

 
363

 
341

 
396

Amortization of intangibles
14

 
20

 
21

 
20

 
21

Nonperforming asset management
58

 
54

 
40

 
60

 
51

Loss (gain) on sales of other real estate owned
4

 
(95
)
 

 
(12
)
 
47

Valuation adjustments of other real estate owned
21

 

 

 
1

 
1

Operations of other real estate owned, net
22

 
51

 
77

 
70

 
87

FDIC insurance premiums
146

 
108

 
99

 
115

 
104

Other
1,179

 
1,160

 
1,042

 
1,170

 
1,074

Total noninterest expense
$
9,472

 
$
10,098

 
$
11,155

 
$
9,425

 
$
10,215



Page 3

BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters
(Dollars in thousands; except per share) – (Unaudited)


 
2019
 
2018
 
IIQ
 
IQ
 
IVQ
 
IIIQ
 
IIQ
LOANS
 
 
 
 
 
 
 
 
 
One–to–four family residential real estate
$
64,192

 
$
66,833

 
$
70,371

 
$
77,591

 
$
84,048

Multi–family mortgage
619,898

 
634,328

 
619,870

 
581,880

 
571,886

Nonresidential real estate
145,416

 
148,601

 
152,442

 
148,010

 
155,627

Construction and land
117

 
145

 
172

 
1,130

 
1,316

Commercial loans
153,709

 
172,264

 
187,406

 
167,547

 
163,925

Commercial leases
289,107

 
289,750

 
299,394

 
297,103

 
316,555

Consumer
1,861

 
1,846

 
1,539

 
1,416

 
1,469

 
1,274,300

 
1,313,767

 
1,331,194

 
1,274,677

 
1,294,826

Net deferred loan origination costs
978

 
1,062

 
1,069

 
1,213

 
1,176

Allowance for loan losses
(7,824
)
 
(8,354
)
 
(8,470
)
 
(8,103
)
 
(8,179
)
Loans, net
$
1,267,454

 
$
1,306,475

 
$
1,323,793

 
$
1,267,787

 
$
1,287,823

 
 
 
 
 
 
 
 
 
 
LOAN ORIGINATIONS (1)
 
 
 
 
 
 
 
 
 
One–to–four family residential real estate
$
836

 
$
695

 
$
647

 
$
1,290

 
$
987

Multi–family mortgage
9,258

 
27,871

 
71,101

 
31,633

 
21,838

Nonresidential real estate
4,100

 
1,641

 
7,120

 
1,166

 
1,310

Commercial loans
153,537

 
155,123

 
171,048

 
164,974

 
164,048

Commercial leases
34,959

 
27,611

 
52,929

 
27,296

 
77,744

Consumer
842

 
1,174

 
913

 
695

 
672

 
$
203,532

 
$
214,115

 
$
303,758

 
$
227,054

 
$
266,599

Weighted average rate
6.27
%
 
6.15
%
 
5.91
%
 
5.96
%
 
5.62
%
 

 
 
 
 
 
 
 
 
LOAN PAYMENTS and PAYOFFS (2)

 
 
 
 
 
 
 
 
One–to–four family residential real estate
$
3,415

 
$
4,195

 
$
7,590

 
$
7,135

 
$
8,959

Multi–family mortgage
23,685

 
13,308

 
35,135

 
19,804

 
27,911

Nonresidential real estate
7,165

 
5,542

 
4,315

 
8,890

 
9,499

Construction and land
27

 
27

 
27

 
184

 
15

Commercial loans
167,352

 
170,387

 
151,768

 
161,359

 
162,544

Commercial leases
39,633

 
37,259

 
50,742

 
46,885

 
47,417

Consumer
800

 
781

 
868

 
762

 
704

 
$
242,077

 
$
231,499

 
$
250,445

 
$
245,019

 
$
257,049

Weighted average rate
5.91
%
 
5.91
%
 
5.59
%
 
5.56
%
 
5.28
%

(1)
Loan originations include purchased loans, draws on revolving lines of credit and exclude loan renewals.
(2)
Loan payments and payoffs exclude loan renewals.

Page 4

BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters
(Dollars in thousands; except per share) – (Unaudited)


 
2019
 
2018
 
IIQ
 
IQ
 
IVQ
 
IIIQ
 
IIQ
CREDIT QUALITY:
 
 
 
 
 
 
 
 
 
Nonperforming Assets:
 
 
 
 
 
 
 
 
 
Nonaccrual loans:
 
 
 
 
 
 
 
 
 
One–to–four family residential real estate
$
923

 
$
844

 
$
1,240

 
$
1,369

 
$
1,538

Multi–family mortgage

 

 

 
102

 
92

Nonresidential real estate
2,080

 
242

 
270

 

 

Commercial loans

 
354

 

 

 

Consumer loans

 

 

 

 
6

Nonaccrual loans
3,003

 
1,440

 
1,510

 
1,471

 
1,636

 
 
 
 
 
 
 
 
 
 
Other real estate owned:
 
 
 
 
 
 
 
 
 
One–to–four family residential real estate
497

 
921

 
875

 
634

 
833

Multi–family mortgage

 

 
276

 
276

 
276

Nonresidential real estate

 

 
74

 
74

 
74

Land 

 

 
1

 
1

 
4

Other real estate owned
497

 
921

 
1,226

 
985

 
1,187

 
 
 
 
 
 
 
 
 
 
Nonperforming assets
$
3,500

 
$
2,361

 
$
2,736

 
$
2,456

 
$
2,823

 
 
 
 
 
 
 
 
 
 
Asset Quality Ratios
 
 
 
 
 
 
 
 
 
Nonperforming assets to total assets
0.23
%
 
0.15
%
 
0.17
%
 
0.16
%
 
0.18
%
Nonperforming loans to total loans
0.24

 
0.11

 
0.11

 
0.12

 
0.13

Nonperforming commercial-related loans to total commercial-related loans (1)
0.17

 
0.05

 
0.02

 
0.01

 
0.01

Nonperforming residential and consumer loans to total residential and consumer loans
1.40

 
1.23

 
1.72

 
1.73

 
1.81

Allowance for loan losses to nonperforming loans
260.54

 
580.14

 
560.93

 
550.85

 
499.94

 
 
 
 
 
 
 
 
 
 
Concentrations of Credit
 
 
 
 
 
 
 
 
 
Commercial Real Estate for FFIEC Concentration Limits
$
734,567

 
$
749,755

 
$
737,887

 
$
697,843

 
$
694,555

% FFIEC Total Capital
437.62
%
 
440.83
%
 
413.00
%
 
378.64
%
 
378.45
%
 
 
 
 
 
 
 
 
 
 
Multi–family mortgage loans - 50% risk based capital qualified (included above)
$
286,910

 
$
351,284

 
$
370,512

 
$
357,947

 
$
299,138

% FFIEC Total Capital
170.93
%
 
206.54
%
 
207.38
%
 
194.22
%
 
162.99
%
 
 
 
 
 
 
 
 
 
 
Commercial Leases - Investment Grade
$
143,148

 
$
157,215

 
$
166,209

 
$
181,131

 
$
197,746

Commercial Leases - Other
145,959

 
132,535

 
133,185

 
115,972

 
118,809


(1)
Commercial-related loans include Multi-family mortgage, Nonresidential, Construction and land and Commercial loans and Commercial leases.


Page 5

BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters
(Dollars in thousands; except per share) – (Unaudited)


 
2019
 
2018
 
IIQ
 
IQ
 
IVQ
 
IIIQ
 
IIQ
SUBSTANDARD PERFORMING LOANS
 
 
 
 
 
 
 
 
 
One–to–four family residential real estate
$
487

 
$
384

 
$
365

 
$
409

 
$
295

Multi–family mortgage
213

 
214

 
216

 
310

 
218

Nonresidential real estate
93

 
95

 
98

 
99

 
100

Commercial loans
500

 
3,033

 
342

 
4,699

 
3,820

Consumer
1

 
9

 
7

 
10

 
1

 
$
1,294

 
$
3,735

 
$
1,028

 
$
5,527

 
$
4,434

 
 
 
 
 
 
 
 
 
 
ALLOWANCE FOR LOAN LOSSES
 
 
 
 
 
 
 
 
 
Beginning balance
$
8,354

 
$
8,470

 
$
8,103

 
$
8,179

 
$
8,341

Charge–offs:
 
 
 
 
 
 
 
 
 
One–to–four family residential real estate
(50
)
 
(23
)
 
(17
)
 
(84
)
 
(33
)
Multi–family mortgage

 

 

 

 
(35
)
Nonresidential real estate

 
(28
)
 
(93
)
 

 

Commercial loans
(4,443
)
 

 
 
 

 
(140
)
Consumer
(10
)
 
(5
)
 
(12
)
 
(6
)
 
(1
)
 
(4,503
)
 
(56
)
 
(122
)
 
(90
)
 
(209
)
Recoveries:
 
 
 
 
 
 
 
 
 
One–to–four family residential real estate
6

 
17

 
76

 
25

 
6

Multi–family mortgage
8

 
8

 
8

 
8

 
10

Construction and land

 

 

 
2

 

Commercial loans
2

 
2

 
2

 
2

 
2

Commercial leases

 

 

 

 
5

Consumer

 

 

 

 
1

 
16

 
27

 
86

 
37

 
24

Net charge–offs
(4,487
)
 
(29
)
 
(36
)
 
(53
)
 
(185
)
Provision for (recovery of ) loan losses
3,957

 
(87
)
 
403

 
(23
)
 
23

Ending balance
$
7,824

 
$
8,354

 
$
8,470

 
$
8,103

 
$
8,179

 
 
 
 
 
 
 
 
 
 
Allowance for loan losses to total loans
0.61
 %
 
0.64
 %
 
0.64
 %
 
0.64
 %
 
0.63
 %
Net charge–off ratio (1)
(1.38
)
 
(0.01
)
 
(0.01
)
 
(0.02
)
 
(0.06
)
(1)
Annualized


Page 6

BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters
(Dollars in thousands; except per share) – (Unaudited)


 
2019
 
2018
 
IIQ
 
IQ
 
IVQ
 
IIIQ
 
IIQ
DEPOSITS
 
 
 
 
 
 
 
 
 
Noninterest–bearing demand
$
213,966

 
$
222,328

 
$
230,041

 
$
225,446

 
$
229,717

Interest–bearing NOW accounts
278,405

 
266,402

 
275,830

 
283,561

 
281,603

Money market accounts
246,941

 
248,657

 
255,951

 
266,070

 
281,493

Savings deposits
153,414

 
155,505

 
152,334

 
155,232

 
158,731

Certificates of deposit - retail
348,685

 
341,266

 
332,053

 
275,160

 
251,974

Certificates of deposit - wholesale
88,796

 
92,588

 
106,275

 
90,301

 
92,335

 
$
1,330,207

 
$
1,326,746

 
$
1,352,484

 
$
1,295,770

 
$
1,295,853

 
 
 
 
 
 
 
 
 
 
SELECTED AVERAGE BALANCES
 
 
 
 
 
 
 
 
 
Total average assets
$
1,529,033

 
$
1,553,484

 
$
1,548,292

 
$
1,540,522

 
$
1,565,996

Total average interest–earning assets
1,458,180

 
1,474,355

 
1,478,028

 
1,463,404

 
1,492,824

Average loans
1,297,548

 
1,304,385

 
1,296,108

 
1,274,788

 
1,291,339

Average securities
86,144

 
91,271

 
98,756

 
113,234

 
107,384

Average stock in FHLB & FRB
7,629

 
8,026

 
8,026

 
8,125

 
8,411

Average other interest–earning assets
66,859

 
70,673

 
75,138

 
67,257

 
85,690

Total average interest–bearing liabilities
1,107,540

 
1,120,957

 
1,108,397

 
1,098,424

 
1,117,188

Average interest–bearing deposits
1,106,439

 
1,106,582

 
1,085,611

 
1,059,929

 
1,055,228

Average borrowings
1,101

 
14,375

 
22,786

 
38,495

 
61,960

Average stockholders’ equity
175,452

 
184,957

 
188,643

 
194,745

 
197,314

 
 
 
 
 
 
 
 
 
 
SELECTED YIELDS AND COST OF FUNDS (1):
 
 
 
 
 
 
 
 
Total average interest–earning assets
4.54
%
 
4.55
%
 
4.33
%
 
4.17
%
 
4.04
%
Average loans
4.76

 
4.77

 
4.59

 
4.43

 
4.34

Average securities
2.80

 
2.67

 
2.38

 
2.20

 
2.04

Average other interest–earning assets
2.63

 
2.71

 
2.61

 
2.28

 
1.81

Total average interest–bearing liabilities
1.24

 
1.20

 
1.09

 
0.87

 
0.73

Average interest–bearing deposits
1.24

 
1.18

 
1.07

 
0.85

 
0.70

Average cost of total deposits
1.04

 
0.99

 
0.89

 
0.70

 
0.57

Average cost of retail and commercial deposits
1.13

 
1.08

 
0.97

 
0.75

 
0.60

Average cost of wholesale deposits and borrowings
2.39

 
2.29

 
2.09

 
1.77

 
1.57

Average cost of funds
1.04

 
1.00

 
0.90

 
0.72

 
0.61

Net interest rate spread
3.30

 
3.35

 
3.24

 
3.30

 
3.31

Net interest margin
3.60

 
3.64

 
3.52

 
3.51

 
3.49

(1)     Annualized

Page 7

BANKFINANCIAL CORPORATION
SELECTED QUARTERLY FINANCIAL AND STATISTICAL DATA
Latest Five Quarters
(Dollars in thousands; except per share) – (Unaudited)


 
2019
 
2018
 
IIQ
 
IQ
 
IVQ
 
IIIQ
 
IIQ
CAPITAL RATIOS
 
 
 
 
 
 
 
 
 
BankFinancial Corporation
 
 
 
 
 
 
 
 
 
Equity to total assets (end of period)
11.18
%
 
11.41
%
 
11.81
%
 
12.53
%
 
12.39
%
Tangible equity to tangible total assets (end of period)
11.10

 
11.40

 
11.80

 
12.53

 
12.38

Risk–based total capital ratio
15.17

 
15.47

 
16.33

 
17.40

 
16.73

Common Tier 1 (CET1)
14.49

 
14.76

 
15.61

 
16.67

 
16.02

Risk–based tier 1 capital ratio
14.49

 
14.76

 
15.61

 
16.67

 
16.02

Tier 1 leverage ratio
11.04

 
11.13

 
11.82

 
12.06

 
11.93

Tier 1 capital
$
168,461

 
$
172,486

 
$
182,404

 
$
185,015

 
$
185,836

BankFinancial, NA
 
 
 
 
 
 
 
 
 
Risk–based total capital ratio
14.46
%
 
14.58
%
 
15.30
%
 
16.61
%
 
15.83
%
Common Tier 1 (CET1)
13.78

 
13.86

 
14.57

 
15.88

 
15.12

Risk–based tier 1 capital ratio
13.78

 
13.86

 
14.57

 
15.88

 
15.12

Tier 1 leverage ratio
10.49

 
10.45

 
11.03

 
11.49

 
11.26

Tier 1 capital
$
159,917

 
$
161,723

 
$
170,194

 
$
176,199

 
$
175,349

 
 
 
 
 
 
 
 
 
 
COMMON STOCK AND DIVIDENDS
 
 
 
 
 
 
 
 
 
Stock Prices:
 
 
 
 
 
 
 
 
 
Close
$
13.99

 
$
14.87

 
$
14.95

 
$
15.94

 
$
17.65

High
15.63

 
16.06

 
16.06

 
18.08

 
18.62

Low
13.44

 
13.46

 
13.88

 
15.32

 
15.07

Common shares outstanding
15,373,964

 
15,644,499

 
16,481,514

 
17,206,303

 
17,461,088

Book value per share
$
11.15

 
$
11.26

 
$
11.36

 
$
11.16

 
$
11.12

Tangible book value per share
$
11.15

 
$
11.26

 
$
11.35

 
$
11.16

 
$
11.12

Cash dividends declared on common stock
$
0.10

 
$
0.10

 
$
0.10

 
$
0.10

 
$
0.09

Dividend payout ratio
191.78
%
 
46.35
%
 
22.74
%
 
46.65
%
 
34.20
%
Stock repurchases
$
4,001

 
$
12,840

 
$
10,691

 
$
4,103

 
$
7,167

Stock repurchases – shares
270,535

 
837,015

 
724,789

 
254,785

 
415,889

 
 
 
 
 
 
 
 
 
 
EARNINGS PER SHARE COMPUTATIONS
 
 
 
 
 
 
 
 
 
Net income
$
807

 
$
3,551

 
$
7,416

 
$
3,737

 
$
4,630

Average common shares outstanding
15,472,618

 
16,202,303

 
16,820,641

 
17,365,679

 
17,634,190

Unvested restricted stock shares

 

 

 

 
(375
)
Weighted average common shares outstanding
15,472,618


16,202,303

 
16,820,641

 
17,365,679

 
17,633,815

Weighted average dilutive common shares outstanding
15,472,618

 
16,202,303

 
16,820,641

 
17,365,679

 
17,633,815

Basic earnings per common share
$
0.05

 
$
0.22

 
$
0.44

 
$
0.22

 
$
0.26

Diluted earnings per common share
$
0.05

 
$
0.22

 
$
0.44

 
$
0.22

 
$
0.26



Page 8