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Earnings Per Common Share | 12 Months Ended
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Dec. 31, 2020
Earnings Per Common Share [Abstract] |
Earnings Per Common Share | NOTE 22 – EARNINGS 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 participating securities (certain unvested share-based awards and Series C preferred stock outstanding) according to dividends declared (or accumulated) and participation rights in undistributed earnings. The factors used in the earnings per share computation follow: ﻿
﻿ |  |  |  |  |
﻿ | December 31, 2020 |  | December 31, 2019
﻿Basic |  |  |  |  |
﻿Net income | $ | 29,608 |  | $ | 9,601
﻿Accretion of discount and value of warrants exercised related to Series B preferred stock (1) |  | - |  |  | 219
﻿Earnings allocated to participating securities (Series C preferred stock) (2) |  | (2,280) |  |  | (430)
﻿Net income allocated to common stockholders | $ | 27,328 |  | $ | 9,390
﻿ |  |  |  |  |
﻿Weighted average common shares outstanding including unvested share-based payment awards |  | 6,072,829 |  |  | 4,582,997
﻿Less: Unvested share-based payment awards-2019 Plan |  | (43,732) |  |  | (1,532)
﻿Average shares |  | 6,029,097 |  |  | 4,581,465
﻿Basic earnings per common share | $ | 4.53 |  | $ | 2.05
﻿ |  |  |  |  |
﻿Diluted |  |  |  |  |
﻿Net earnings allocated to common stockholders | $ | 27,328 |  | $ | 9,390
﻿Add back: Preferred Dividends on Series B stock and accretion of discount |  | - |  |  | -
﻿Net earnings allocated to common stockholders | $ | 27,328 |  | $ | 9,390
﻿ |  |  |  |  |
﻿Weighted average common shares outstanding for basic earnings per common share |  | 6,029,097 |  |  | 4,581,465
﻿Add: Dilutive effects of assumed exercises of stock options |  | 34,158 |  |  | 38,620
﻿Add: Dilutive effects of assumed exercises of stock warrants |  | - |  |  | 6,947
﻿Add: Dilutive effects of unvested share-based payment awards-2019 Plan |  | 43,732 |  |  | 1,532
﻿Average shares and dilutive potential common shares |  | 6,106,987 |  |  | 4,628,564
﻿Diluted earnings per common share | $ | 4.47 |  | $ | 2.03
﻿
| (1) |  | All outstanding warrants expired on July 15, 2019.
| (2) |  | All 12,607 outstanding shares of Series C preferred stock were converted into a total of 1,260,700 shares of the Company’s Non-Voting Common Stock effective as of the close of business on May 28, 2020.
﻿ The following securities were anti-dilutive and not considered in computing diluted earnings per common share. ﻿
﻿ |  |  |  |  |
﻿ |  | 2020 |  |  | 2019
﻿Stock options |  | 331 |  |  | 463
﻿

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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