EARNINGS PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2018

EARNINGS PER COMMON SHARE

Schedule of basic and diluted earning (loss) per share

The table below presents the calculation of basic and diluted earnings per common share for the periods indicated (amounts in thousands, except share and per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Earnings per common share - Basic
Numerator:
Net income	$	1,689	$	1,048	$	3,923	$	1,978
Dividends on preferred stock		(255)		(584)		(1,378)		(1,731)
Net income available for common shareholders	$	1,434	$	464	$	2,545	$	247
Denominator:
Basic weighted average shares		7,373,770		5,554,553		6,321,511		5,545,151
Earnings per common share - basic	$	0.19	$	0.08	$	0.40	$	0.04
Earnings per common share - Diluted
Numerator:
Net income	$	1,689	$	1,048	$	3,923	$	1,978
Dividends on preferred stock		(255)		(584)		(1,378)		(1,731)
Net income available for common shareholders	$	1,434	$	464	$	2,545	$	247
Denominator:
Basic weighted average shares		7,373,770		5,554,553		6,321,511		5,545,151
Diluted effect of common stock equivalents:
Stock options		—		10,161		20,860		3,387
Time Vesting Units		—		13,164		14,841		4,388
Financial Performance Units		—		—		6,505		—
Market Performance Units		15,075		—		5,025		—
Restricted Stock Awards		—		—		3,509		—
Total diluted effect of common stock equivalents		15,075		23,325		50,740		7,775
Diluted weighted average shares		7,388,845		5,577,878		6,372,251		5,552,926
Earnings per common share - diluted	$	0.19	$	0.08	$	0.40	$	0.04

Schedule of Antidilutive securities

	For the Period Ended September 30,
	2018	2017
Stock options	467,947	215,200
Convertible Preferred D shares	—	151,700
Time Vesting Units	168,962	—
Financial Performance Units	16,345	—
Restricted Stock Awards	43,830	—
Total potentially dilutive securities	697,084	366,900