Earnings Per Share

9 Months Ended

Sep. 30, 2016

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 (dollars in thousands, except per share amounts):



	Three Months Ended September 30,					Nine Months Ended September 30,
	2016			2015		2016			2015
Net income (loss) attributable to Conifer	$	(1,475	)	$	1,326	$	(4,016	)	$	2,368
Preferred stock dividends	—			81		—			384
Paid-in-kind dividends	—			33		—			156
Net income (loss) allocable to common shareholders	$	(1,475	)	$	1,212	$	(4,016	)	$	1,828

Weighted average common shares, basic and diluted*	7,608,284			5,701,794		7,613,954			4,603,451

Earnings (loss) per share allocable to common, basic and diluted	$	(0.19	)	$	0.21	$	(0.53	)	$	0.40

* The nonvested shares of the restricted stock units were anti-dilutive as of September 30, 2016. Therefore, the basic and diluted weighted average common shares are equal for the three and nine months ended September 30, 2016.