Earnings (Loss) Per Common Share

12 Months Ended

Dec. 31, 2018

Earnings (Loss) Per Common Share [Abstract]

Earnings (Loss) Per Common Share

Note 12.  Earnings (Loss) Per Common Share

Basic earnings per share was computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share reflected the effect of potentially dilutive securities.

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

	For the Year Ended December 31, 2018
	Income			Shares (In thousands)		Per Share Amount
Basic and Diluted Loss Per Common Share
Net loss before preferred stock dividends	$	(704	)		20,284
Less preferred stock dividends		(399	)		-
Net loss applicable to common shareholders	$	(1,103	)		20,284	$	(.05	)

	For the Year Ended December 31, 2017
	Income			Shares (In thousands)		Per Share Amount
Basic and Diluted Earnings Per Common Share
Net income before preferred stock dividends	$	4,528			20,431
Less preferred stock dividends		(399	)		-
Net income applicable to common shareholders	$	4,129			20,431	$	.20

The assumed conversion of the Company’s Series D Preferred Stock was excluded from the earnings per common share calculation for 2018 and 2017 since its impact would have been antidilutive.