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EARNINGS PER COMMON SHARE
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE EARNINGS PER COMMON SHARE
The following table presents computations of basic and diluted earnings per common share for the three months ended March 31, 2020:
 
 
Three Months Ended March 31, 2020
($ in thousands except per share data)
 
Common Stock
 
Class B
Common Stock
Loss from operations
 
$
(6,531
)
 
$
(62
)
Less: participating securities dividends
 
(93
)
 
(1
)
Less: preferred stock dividends
 
(3,500
)
 
(33
)
Less: preferred stock redemption
 
521

 
5

Net loss allocated to common stockholders
 
$
(9,603
)
 
$
(91
)
Weighted average common shares outstanding
 
49,987,456

 
477,321

Dilutive effects of restricted shares/units
 
—

 
—

Dilutive effects of stock options
 
—

 
—

Average shares and dilutive common shares
 
49,987,456

 
477,321

 
 
 
 
 
Basic loss per common share
 
$
(0.19
)
 
$
(0.19
)
Diluted loss per common share
 
$
(0.19
)
 
$
(0.19
)

For the three months ended March 31, 2020, there were 962,566 of restricted shares/units and 55,806 of stock options that were not considered in computing diluted earnings per common share, because they were anti-dilutive.
The following table presents computations of basic and diluted EPS for the three months ended March 31, 2019:
 
 
Three Months Ended March 31, 2019
($ in thousands except per share data)
 
Common Stock
 
Class B Common Stock
Income from operations
 
$
6,971

 
$
66

Less: participating securities dividends
 
(200
)
 
(2
)
Less: preferred stock dividends
 
(4,267
)
 
(41
)
Net income allocated to common stockholders
 
$
2,504

 
$
23

Weighted average common shares outstanding
 
50,199,401

 
477,321

Dilutive effects of stock units
 
160,299

 
—

Dilutive effects of stock options
 
9,700

 
—

Average shares and dilutive common shares
 
50,369,400

 
477,321

 
 
 
 
 
Basic earnings per common share
 
$
0.05

 
$
0.05

Diluted earnings per common share
 
$
0.05

 
$
0.05


For the three months ended March 31, 2019, there were 180,304, respectively, of stock units that were not considered in computing diluted earnings per common share, because they were anti-dilutive. There were 16,165 stock options that were anti-dilutive during the three months ended March 31, 2019.