Earnings (Loss) Per Common Share

12 Months Ended

Dec. 31, 2020

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 (loss) 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 income (loss) per common share calculations is as follows:

	For the Year Ended December 31, 2020
	Income			Weighted Average Shares Outstanding (In thousands)		Per Share Amount
Basic Earnings Per Common Share
Net income before preferred stock dividends	$	12,169			20,441		-
Less preferred stock dividends		(399	)		—
Net income applicable to common shareholders		11,770			20,441		0.58
Diluted Earnings Per Common Share:
Effect of Series D preferred stock		399			1,378
Net income applicable to common shareholders	$	12,169			21,819	$	0.56

	For the Year Ended December 31, 2019
	Loss			Weighted Average Shares Outstanding (In thousands)		Per Share Amount
Basic and Diluted Loss Per Common Share
Net loss before preferred stock dividends	$	(386	)		20,258		-
Less preferred stock dividends		(399	)		—
Net loss applicable to common shareholders	$	(785	)		20,258	$	(.04	)

The assumed conversion of the Company’s Series D Preferred Stock was excluded from the earnings per common share calculation for 2019 since its impact would have been antidilutive.