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Earnings per Common Share | 3 Months Ended
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Mar. 31, 2020
Earnings Per Share [Abstract] |
Earnings per Common Share | (9) Earnings per Common Share Basic earnings per common share are computed as net income available to common shareholders divided by the weighted average number of common shares outstanding during the period. 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 |
|  | March 31, |
|  | 2020 |  |  | 2019 |
Basic |  |  |  |  |  |  |  |
Net income |  | $ | 7,833 |  |  | $ | 9,669 |
Preferred stock dividends |  |  | — |  |  |  | 164 |
Net income available to common shareholders—basic |  | $ | 7,833 |  |  | $ | 9,505 |
Weighted average common shares outstanding—basic |  |  | 16,517,745 |  |  |  | 15,607,655 |
Basic earnings per common share |  | $ | 0.47 |  |  | $ | 0.61 |
Diluted |  |  |  |  |  |  |  |
Net income available to common shareholders—basic |  | $ | 7,833 |  |  | $ | 9,505 |
Preferred stock dividends |  |  | — |  |  |  | 164 |
Net income available to common shareholders—diluted |  | $ | 7,833 |  |  | $ | 9,669 |
Weighted average common shares outstanding for basic earnings per common share |  |  | 16,517,745 |  |  |  | 15,607,655 |
Add: Dilutive effects of convertible preferred shares |  |  | — |  |  |  | 1,294,175 |
Average shares and dilutive potential common shares outstanding—diluted |  |  | 16,517,745 |  |  |  | 16,901,830 |
Diluted earnings per common share |  | $ | 0.47 |  |  | $ | 0.57 |
For the quarter ended March 31, 2019, there were 1,294,175 of average dilutive shares related to the Company’s convertible preferred shares. Under the “if converted” method, all convertible preferred shares are assumed to be converted into common shares at the corresponding conversion rate. These additional shares are then added to the common shares outstanding to calculate diluted earnings per share.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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