Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2019

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 shares using the “if converted” method.

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2019		2018			2019		2018
Basic
Net income (loss)	$	7,708	$	(3,433	)	$	26,038	$	6,570
Preferred stock dividends		162		192			490		794
Net income (loss) available to common shareholders—basic	$	7,546	$	(3,625	)	$	25,548	$	5,776
Weighted average common shares outstanding—basic		15,577,371		11,627,093			15,604,410		10,775,577
Basic earnings (loss) per common share	$	0.48	$	(0.31	)	$	1.64	$	0.54
Diluted
Net income (loss) available to common shareholders—basic	$	7,546	$	(3,625	)	$	25,548	$	5,776
Preferred stock dividends		162		192			490		794
Net income (loss) available to common shareholders—diluted	$	7,708	$	(3,433	)	$	26,038	$	6,570
Weighted average common shares outstanding for basic earnings per common share		15,577,371		11,627,093			15,604,410		10,775,577
Add: Dilutive effects of convertible preferred shares		1,272,516		1,643,980			1,286,876		2,054,825
Average shares and dilutive potential common shares outstanding—diluted		16,849,887		13,271,073			16,891,286		12,830,402
Diluted earnings (loss) per common share	$	0.46	$	(0.31	)	$	1.54	$	0.51