Earnings (Loss) Per Common Share

9 Months Ended

Sep. 30, 2020

Earnings (Loss) Per Common Share [Abstract]

Earnings (Loss) Per Common Share

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 September 30, 2020
	Income			Weighted Average Shares (In thousands)		Per Share Amount
Basic Earnings Per Common Share:
Net income	$	1,876			20,438
Less preferred stock dividends		(100	)		—
Net income applicable to common shareholders		1,776			20,438		$	.09
Diluted Earnings Per Common Share:
Effect of Series D preferred stock		100			1,378
Net income applicable to common shareholders	$	1,876			21,816		$	.09

	Three Months Ended September 30, 2019
	Loss			Weighted Average Shares (In thousands)		Per Share Amount
Basic and Diluted Loss Per Common Share:
Net loss	$	(1,392	)		20,250
Less preferred stock dividends		(100	)		—
Net loss applicable to common shareholders	$	(1,492	)		20,250	$	(.07)

	Nine Months Ended September 30, 2020
	Income			Weighted Average Shares (In thousands)		Per Share Amount
Basic and Diluted Income Per Common Share:
Net income	$	321			20,450
Less preferred stock dividends		(299	)		—
Net income applicable to common shareholders	$	22			20,450	$	—

	Nine Months Ended September 30, 2019
	Loss			Weighted Average Shares (In thousands)		Per Share Amount
Basic and Diluted Loss Per Common Share:
Net loss	$	(1,656	)		20,185
Less preferred stock dividends		(299	)		—
Net loss applicable to common shareholders	$	(1,955	)		20,185	$	(.10)

The assumed conversion of the Company’s Series D preferred stock was excluded from the earnings (loss) per common share calculation for all periods presented, except for the three month period ended September 30, 2020, since its impact would have been antidilutive.