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Earnings Per Common Share | 12 Months Ended
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Dec. 31, 2021
Earnings Per Common Share [Abstract] |
Earnings Per Common Share | NOTE 21 – EARNINGS PER COMMON SHAREThe 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: Year Ended December 31, 2021 December 31, 2020 December 31, 2019Basic Net income$ 18,453 $ 29,608 $ 9,601Accretion of discount and value of warrants exercised related to Series B preferred stock (1) - - 219Earnings allocated to participating securities (Series C preferred stock) (2) - (2,280) (430)Net income allocated to common stockholders$ 18,453 $ 27,328 $ 9,390 Weighted average common shares outstanding including unvested share-based payment awards 6,605,278 6,072,829 4,582,997Less: Unvested share-based payment awards-2019 Plan (97,122) (43,732) (1,532)Average shares 6,508,156 6,029,097 4,581,465Basic earnings per common share $2.84 $4.53 $2.05 Diluted Net earnings allocated to common stockholders$ 18,453 $ 27,328 $ 9,390Add back: Preferred Dividends on Series B stock and accretion of discount - - -Net earnings allocated to common stockholders$ 18,453 $ 27,328 $ 9,390 Weighted average common shares outstanding for basic earnings per common share 6,508,156 6,029,097 4,581,465Add: Dilutive effects of assumed exercises of stock options 45,169 34,158 38,620Add: Dilutive effects of assumed exercises of stock warrants - - 6,947Add: Dilutive effects of unvested share-based payment awards-2019 Plan 97,122 43,732 1,532Average shares and dilutive potential common shares 6,650,447 6,106,987 4,628,564Diluted earnings per common share $2.77 $4.47 $2.03 (1)All outstanding warrants expired on July 15, 2019. (2)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. 2021 2020 2019Stock 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=124432515&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=124432515&loc=d3e3630-109257 + Details
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