Three Months Ended
Mar. 31,

($ and outstanding shares in thousands - except per share data)

2020

2019

Distributed earnings allocated to common shares

$

744

$

556

Undistributed (in excess of) earnings allocated to common shares

(67

)

1,422

Net earnings allocated to common shares

677

1,978

Net earnings allocated to participating securities

4

Dividends on convertible preferred shares

-

244

Net Income allocated to common shares and participating securities

$

681

$

2,226

Weighted average shares outstanding for basic earnings per share

7,749

6,482

Dilutive effect of stock compensation

7

38

Dilutive effect of convertible shares

-

1,474

Weighted average shares outstanding for diluted earnings per share

7,756

7,994

Basic earnings per common share

$

0.09

$

0.31

Diluted earnings per common share

$

0.09

$

0.28