Note 12 - Earnings Per Share

9 Months Ended

Sep. 30, 2015

Notes to Financial Statements

Earnings Per Share [Text Block]

1

2

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Earnings

Per Share

Basic and diluted earnings (loss) per share are computed by dividing net income allocable to common shareholders by the weighted average number of common shares outstanding during the period. The dividends on preferred stock and other gains are deducted from the net income to arrive at net income allocable to common shareholders. In the period of a net loss, the dividends on preferred stock are added to the net loss to arrive at net loss allocable to common shareholders. The following table presents the calculation of basic and diluted earnings (loss) per common share, as follows (in thousands, except share and per share amounts):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2015		2014			2015		2014
Net income (loss) attributable to Conifer	$	1,326	$	(2,234	)	$	2,368	$	(6,999	)
Preferred stock dividends		81		16			384		43
Paid-in-kind dividends		33		-			156		-
Net income (loss) allocable to common shareholders	$	1,212	$	(2,250	)	$	1,828	$	(7,042	)
Weighted average common shares, basic and diluted*		5,701,794		2,514,229			4,603,451		2,335,315
Earnings (loss) per share allocable to common, basic and diluted	$	0.21	$	(0.89	)	$	0.40	$	(3.02	)

*The nonvested shares of the restricted stock units were anti-dilutive as of September 30, 2015. Therefore, the basic and and diluted weighted average common shares are equal as of September 30, 2015.