Three Months Ended

March 31,

(dollars in thousands, except per share data)

2020

2019

Net income

$

1,549

$

13,982

Preferred dividends declared

—

(82)

Preferred stock, premium amortization

—

48

Net income available to common shareholders

1,549

13,948

Common shareholder dividends

(6,510)

(5,776)

Unvested restricted stock award dividends

(65)

(47)

Undistributed earnings to unvested restricted stock awards

—

(65)

Undistributed (loss) earnings to common shareholders

$

(5,026)

$

8,060

Basic

Distributed earnings to common shareholders

$

6,510

$

5,776

Undistributed (loss) earnings to common shareholders

(5,026)

8,060

Total common shareholders earnings, basic

$

1,484

$

13,836

Diluted

Distributed earnings to common shareholders

$

6,510

$

5,776

Undistributed (loss) earnings to common shareholders

(5,026)

8,060

Total common shareholders earnings

1,484

13,836

Add back:

Undistributed earnings reallocated from unvested restricted stock awards

—

Total common shareholders earnings, diluted

$

1,484

$

13,836

Weighted average common shares outstanding, basic

24,433,975

23,998,119

Options and warrants

104,027

206,542

Weighted average common shares outstanding, diluted

24,538,002

24,204,661

Basic earnings per common share

$

0.06

$

0.58

Diluted earnings per common share

0.06

0.57