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Earnings Per Common Share (Tables)
9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2021 and 2020:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2021202020212020
Basic:
Net income
$1,280 $5,253 $21,807 $7,097 
Less: Preferred stock dividends
230 202 797 557 
Net income available to common shareholders
$1,050 $5,051 $21,010 $6,540 
Weighted average common shares outstanding
3,913,523 3,443,999 3,749,692 3,419,617 
Basic earnings per common share
$0.27 $1.47 $5.60 $1.91 
Diluted:
Net income
$1,280 $5,253 $21,807 $7,097 
Less: Preferred stock dividends
230 202 797 557 
Add: Series B preferred stock dividends
86 24 365 24 
Net income available to common shareholders
$1,136 $5,075 $21,375 $6,564 
Weighted average common shares outstanding for basic earnings per common share
3,913,523 3,443,999 3,749,692 3,419,617 
Add: Dilutive effects of conversion of Series B preferred stock to common stock
321,318 262,243 321,318 262,243 
Add: Dilutive effects of assumed exercises of stock options/warrants
171,498 — 98,256 — 
Average shares and dilutive potential common shares
4,406,339 3,706,242 4,169,266 3,681,860 
Diluted earnings per common share
$0.26 $1.37 $5.13 $1.78