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Earnings (Loss) Per Common Share | 9 Months Ended
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Sep. 30, 2023
Earnings (Loss) Per Common Share [Abstract] |
Earnings (Loss) Per Common Share |
Note 8. | Earnings (Loss) Per Common Share
A reconciliation of the numerator and denominator used in the earnings (loss) per common share calculations is as follows:
|  | Three Months Ended September 30, 2023 |
|  | Income |  |  | Weighted Average Shares (In thousands) |  |  | Per Share Amount |
Basic Earnings Per Common Share: |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,759 |  |  |  | 20,402 |  |  |  |
Less preferred stock dividends |  |  | (100 | ) |  |  | — |  |  |  |
Net income applicable to common shareholders |  |  | 1,659 |  |  |  | 20,402 |  |  |  | 0.08 |
Diluted Earnings Per Common Share: |  |  |  |  |  |  |  |  |  |  |  |
Effect of Series D preferred stock |  |  | 100 |  |  |  | 1,378 |  |  |  |  |
Net income applicable to common shareholders |  | $ | 1,759 |  |  |  | 21,780 |  |  | $ | 0.08 |
|  | Three Months Ended September 30, 2022 |
|  | Loss |  |  | Weighted Average Shares (In thousands) |  |  | Per Share Amount |
Basic and Diluted Loss Per Common Share: |  |  |  |  |  |  |  |  |
Net loss |  | $ | (684 | ) |  |  | 20,389 |  |  |  |
Less preferred stock dividends |  |  | (100 | ) |  |  | — |  |  |  |
Net loss applicable to common shareholders |  | $ | (784 | ) |  |  | 20,389 |  |  | $ | (0.04 | )
|  | Nine Months Ended September 30, 2023
|  | Income |  |  | Weighted Average Shares (In thousands) |  |  | Per Share Amount |
Basic and Diluted Earnings Per Common Share: |  |  |  |  |  |  |  |  |
Net income |  | $ | 2,057 |  |  |  | 20,405 |  |  |  |  |
Less preferred stock dividends |  |  | (299 | ) |  |  | — |  |  |  |  |
Net income applicable to common shareholders |  | $ | 1,758 |  |  |  | 20,405 |  |  | $ | 0.09 |
|  | Nine Months Ended September 30, 2022 |
|  | Income |  |  | Weighted Average Shares (In thousands) |  |  | Per Share Amount |
Basic and Diluted Earnings Per Common Share: |  |  |  |  |  |  |  |  |
Net income |  | $ | 479 |  |  |  | 20,390 |  |  |  |  |
Less preferred stock dividends |  |  | (299 | ) |  |  | — |  |  |  |  |
Net income applicable to common shareholders |  | $ | 180 |  |  |  | 20,390 |  |  | $ | 0.01 |
The assumed conversion of the Company’s Series D preferred stock was excluded from the earnings (loss) per common share calculation for all periods presented, except for the three month period ended September 30, 2023, since its impact would have been antidilutive.

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