Earnings (Loss) Per Common Share

9 Months Ended

Sep. 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 September 30, 2024
	Loss			Weighted Average Shares (In thousands)		Per Share Amount
Basic and Diluted Loss Per Common Share:
Net loss	$	(1,998	)		20,400
Less preferred stock dividends		(100	)		—
Net loss applicable to common shareholders	$	(2,098	)		20,400	$	(0.10	)

	Three Months Ended September 30, 2023
	Income			Weighted Average Shares (In thousands)		Per Share Amount
Basic Earnings Per Common Share:
Net income	$	1,759			20,402
Less preferred stock dividends		(100	)		—
Net income applicable to common shareholders	$	1,659			20,402	$	0.08
Diluted Earnings Per Common Share:
Effect of Series D preferred stock		100			1,378
Net income applicable to common shareholders	$	1,759			21,780	$	0.08

	Nine Months Ended September 30, 2024
	Loss			Weighted Average Shares (In thousands)		Per Share Amount
Basic and Diluted Loss Per Common Share:
Net loss	$	(4,680	)		20,401
Less preferred stock dividends		(299	)		—
Net loss applicable to common shareholders	$	(4,979	)		20,401	$	(0.24	)

	Nine Months Ended September 30, 2023
	Income			Weighted Average Shares (In thousands)		Per Share Amount
Basic and Diluted Earnings Per Common Share:
Net income	$	2,057			20,405
Less preferred stock dividends		(299	)		—
Net income applicable to common shareholders	$	1,758			20,405	$	0.09

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, 2023, since its impact would have been antidilutive.