Earnings (Loss) Per Common Share

6 Months Ended

Jun. 30, 2024

Earnings (Loss) Per Common Share [Abstract]

Earnings (Loss) Per Common Share

Note 9. 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, 2024
	Loss			Weighted Average Shares (In thousands)		Per Share Amount
Basic and Diluted Loss Per Common Share:
Net loss	$	(684	)		20,400
Less preferred stock dividends		(100	)		—
Net loss applicable to common shareholders	$	(784	)		20,400	$	(0.04	)

	Three Months Ended June 30, 2023
	Loss			Weighted Average Shares (In thousands)		Per Share Amount
Basic Earnings Per Common Share:
Net income	$	1,744			20,404
Less preferred stock dividends		(100	)		—
Net income applicable to common shareholders	$	1,644			20,404	$	0.08
Diluted Earnings Per Common Share:
Effect of Series D preferred stock		100			1,378
Net income applicable to common shareholders	$	1,744			21,782	$	0.08

	Six Months Ended June 30, 2024
	Loss			Weighted Average Shares (In thousands)		Per Share Amount
Basic and Diluted Loss Per Common Share:
Net loss	$	(2,682	)		20,401
Less preferred stock dividends		(199	)		—
Net loss applicable to common shareholders	$	(2,881	)		20,401	$	(0.14	)

	Six Months Ended June 30, 2023
	Income			Weighted Average Shares (In thousands)		Per Share Amount
Basic and Diluted Earnings Per Common Share:
Net income	$	298			20,406
Less preferred stock dividends		(199	)		—
Net income applicable to common shareholders	$	99			20,406	$	—

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 June 30, 2023, since its impact would have been antidilutive.