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EARNINGS (LOSS) PER SHARE | 3 Months Ended
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Mar. 31, 2014
EARNINGS (LOSS) PER SHARE [Abstract] |
EARNINGS (LOSS) PER SHARE |
2. | EARNINGS (LOSS) PER SHARE
The Company utilizes the two-class method to report its earnings (loss) per share. The two-class method is an earnings (loss) allocation formula that determines earnings (loss) per share for each class of common stock according to dividends declared and participation rights in undistributed earnings (loss). The Company's Certificate of Incorporation, as amended, states that Class B common shares are entitled to dividends at least 5% greater than dividends paid to Class A common shares, resulting in the two-class method of computing earnings (loss) per share. In computing earnings (loss) per share, the Company has allocated dividends declared to Class A and Class B based on amounts actually declared for each class of stock and 5% more of the undistributed earnings (loss) have been allocated to Class B shares than to the Class A shares on a per share basis. Basic earnings (loss) per common share are computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per common share, for each class of common stock, are computed by dividing net earnings (loss) by the weighted-average number of common shares and potential common shares outstanding during the period. There were no potential common shares outstanding during the three months ended March 31, 2014 or March 31, 2013 which would have had a dilutive effect on earnings per share. The earnings and weighted-average shares outstanding used in the computation of basic and diluted earnings per share are as follows (dollars in thousands, except share and per share data):
|  | Three Months Ended |
|  | March 31, |
|  | 2014 |  |  | 2013 |
Numerator: |  |  |  |  |  |
Net earnings (loss) |  | $ | 2,503 |  |  | $ | (558 | )
Less Dividends declared: |  |  |  |  |  |  |  |
Class A |  |  | 130 |  |  |  | 130 |
Class B |  |  | 654 |  |  |  | 632 |
Undistributed earnings (loss) |  | $ | 1,719 |  |  | $ | (1,320 | )
Undistributed earnings (loss) allocation - basic and diluted: |  |  |  |  |  |  |  |
Class A undistributed earnings (loss) |  | $ | 312 |  |  | $ | (242 | )
Class B undistributed earnings (loss) |  |  | 1,407 |  |  |  | (1,078 | )
Total undistributed earnings (loss) |  | $ | 1,719 |  |  | $ | (1,320 | )
Net earnings (loss) allocation - basic and diluted: |  |  |  |  |  |  |  |
Class A net earnings (loss) |  | $ | 442 |  |  | $ | (112 | )
Class B net earnings (loss) |  |  | 2,061 |  |  |  | (446 | )
Net earnings (loss) |  | $ | 2,503 |  |  | $ | (558 | )
Denominator: |  |  |  |  |  |  |  |
Weighted-average shares outstanding: |  |  |  |  |  |  |  |
Class A common share - basic and diluted |  |  | 2,174,912 |  |  |  | 2,174,912 |
Class B common share - basic and diluted |  |  | 9,334,955 |  |  |  | 9,221,104 |
Earnings (loss) per share: |  |  |  |  |  |  |  |
Class A common share - basic and diluted |  | $ | 0.20 |  |  | $ | (0.05 | )
Class B common share - basic and diluted |  | $ | 0.22 |  |  | $ | (0.05 | )

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 + Details
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