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Earnings (Loss) Per Common Share

12 Months Ended

Dec. 31, 2015

Earnings (Loss) Per Common Share [Abstract]

Earnings (Loss) Per Common Share

NOTE 23 – EARNINGS (LOSS) PER COMMON SHARE

The two-class method is used in the calculation of basic and diluted earnings per share.  Under the two-class method, earnings available to common stockholders for the period are allocated between common stockholders and unvested share-based payment awards according to dividends declared (or accumulated) and participation rights in undistributed earnings.  The factors used in the earnings per share computation follow:

	2015			2014
Basic
Net earnings (loss)	$	4,477		$	479
Preferred dividends on Series B stock		(857)			(421)
Net earnings (loss) allocated to common stockholders	$	3,620		$	58
Weighted average common shares outstanding including unvested share-based payment awards		15,857,127			15,823,710
Less: Unvested share-based payment awards		-			-
Average shares		15,857,127			15,823,710
Basic earnings (loss) per common share	$	0.23		$	0.00
Diluted
Net earnings (loss) allocated to common stockholders	$	3,620		$	58
Add back: Preferred Dividends on Series B stock		857			-
Net earnings (loss) allocated to fully-diluted	$	4,477		$	58
Weighted average common shares outstanding for basic earnings (loss) per common share		15,857,127			15,823,710
Add: Dilutive effects of assumed exercises of stock options		8,473			30,279
Add: Dilutive effects of assumed exercises of Series B preferred stock		6,857,143			-
Average shares and dilutive potential common shares		22,722,743			15,853,989
Diluted loss per common share	$	0.20		$	0.00

The following potential common shares were anti-dilutive and not considered in computing diluted earnings (loss) per common share.

		2015			2014
Stock options		417,058			245,381
Series B preferred stock		-			6,857,143
Stock warrants		1,152,125			1,152,125

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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 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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