Earnings per Common Share (Tables)

6 Months Ended

Jun. 30, 2017

Computation of Basic and Diluted Earnings per Common Share

Diluted earnings per common share include the dilutive effect, if any, of additional potential common shares issuable under the equity incentive plan, computed using the treasury stock method, and the impact of the Company’s convertible preferred stock using the “if converted” method.


	Three months ended				Six months ended
	June 30,				June 30,
	2017		2016		2017		2016
Basic
Net income	$	3,596	$	5,181	$	8,231	$	9,906
Preferred stock dividends		308		391		627		782

Net income available to common shareholders—basic	$	3,288	$	4,790	$	7,604	$	9,124

Weighted average common shares outstanding—basic		10,162,528		7,877,119		9,634,363		7,861,444

Basic earnings per common share	$	0.32	$	0.61	$	0.79	$	1.16

Diluted
Net income available to common shareholders—basic	$	3,288	$	4,790	$	7,604	$	9,124
Preferred stock dividends		308		391		627		782

Net income available to common shareholders—diluted	$	3,596	$	5,181	$	8,231	$	9,906

Weighted average common shares outstanding for basic earnings per common share		10,162,528		7,877,119		9,634,363		7,861,444
Add: Dilutive effects of convertible preferred shares		2,431,349		3,074,402		2,469,465		3,076,323

Average shares and dilutive potential common shares outstanding—diluted		12,593,877		10,951,521		12,103,828		10,937,767

Diluted earnings per common share	$	0.29	$	0.47	$	0.68	$	0.91