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Earnings Per Common Share
 3 Months Ended
Mar. 31, 2020
Earnings Per Common Share [Abstract]  
Earnings Per Common Share NOTE 19 – EARNINGS PER COMMON SHAREThe calculation of earnings per common share for the quarters ended March 31, 2020 and 2019 is as follows:

 

Quarter Ended March 31,

 

2020

 

2019

 

(In thousands, except per share data)

Net income

$

1,801

 

$

23,470

Less: Dividends on preferred stock

 

 

 

 

 

Non-convertible preferred stock (Series A, B, and D)

 

(1,628)

 

 

(1,628)

Income available to common shareholders

$

173

 

$

21,842

Income available to common shareholders assuming conversion

$

173

 

$

21,842

 

 

 

 

 

 

 

Weighted average common shares and share equivalents:

 

 

 

 

 

Average common shares outstanding

 

51,404

 

 

51,305

Effect of dilutive securities:

 

 

 

 

 

Average potential common shares-options

 

309

 

 

321

Total weighted average common shares outstanding and equivalents

 

51,713

 

 

51,626

Earnings per common share - basic

$

-

 

$

0.43

Earnings per common share - diluted

$

-

 

$

0.42

For the quarter ended March 31, 2020, Oriental did not have weighted-average stock options with an anti-dilutive effect on earnings per share. For the quarters ended March 31, 2019, weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculation amounted to 28,414.