Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2018

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 Company’s 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					Nine Months Ended
	September 30,					September 30,
	2018			2017		2018		2017
Basic
Net income (loss)	$	(3,433	)	$	3,660	$	6,570	$	11,892
Preferred stock dividends		192			308		794		935
Net income (loss) available to common shareholders—basic	$	(3,625	)	$	3,352	$	5,776	$	10,957
Weighted average common shares outstanding—basic		11,627,093			10,170,734		10,775,577		9,815,118
Basic earnings (loss) per common share	$	(0.31	)	$	0.33	$	0.54	$	1.12
Diluted
Net income (loss) available to common shareholders—basic	$	(3,625	)	$	3,352	$	5,776	$	10,957
Preferred stock dividends		192			308		794		935
Net income (loss) available to common shareholders—diluted	$	(3,433	)	$	3,660	$	6,570	$	11,892
Weighted average common shares outstanding for basic earnings per common share		11,627,093			10,170,734		10,775,577		9,815,118
Add: Dilutive effects of convertible preferred shares		1,643,980			2,426,565		2,054,825		2,455,008
Average shares and dilutive potential common shares outstanding—diluted		13,271,073			12,597,299		12,830,402		12,270,126
Diluted earnings (loss) per common share	$	(0.31	)	$	0.29	$	0.51	$	0.97