Note 7.

Earnings (Loss) Per Common Share

A reconciliation of the numerator and denominator used in the earnings (loss) per common share calculations is as follows:

	Three Months Ended June 30, 2018
	Income			Shares (In thousands)		Per Share Amount
Basic Earnings Per Common Share:
Net income	$	3,185			20,286
Less preferred stock dividends		(100	)
Net income applicable to common shareholders		3,085			20,286	$	.15
Diluted Earnings Per Common Share:
Effect of Series D preferred stock		100			1,378
Net income applicable to common shareholders	$	3,185			21,664	$	.15

	Three Months Ended June 30, 2017
	Income			Shares (In thousands)		Per Share Amount
Basic and Diluted Earnings Per Common Share:
Net income	$	1,460			20,412
Less preferred stock dividends		(100	)		-
Net income applicable to common shareholders	$	1,360			20,412	$	.07

	Six Months Ended June 30, 2018
	Income			Shares (In thousands)		Per Share Amount
Basic and Diluted Loss Per Common Share:
Net loss	$	(1,839	)		20,352
Less preferred stock dividends		(199	)		-
Net loss applicable to common shareholders	$	(2,038	)		20,352	$	(.10)

	Six Months Ended June 30, 2017
	Income			Shares (In thousands)		Per Share Amount
Basic and Diluted Earnings Per Common Share:
Net income	$	1,239			20,422
Less preferred stock dividends		(199	)		-
Net income applicable to common shareholders	$	1,040			20,422	$	.05

The assumed conversion of the Company’s Series D preferred stock was excluded from the earnings per common share calculation for all periods presented, except for the three month period ended June 30, 2018, since its impact would have been antidilutive.