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Loss Per Common Share
 12 Months Ended
Dec. 31, 2013
Loss Per Common Share  
Loss Per Common Share

Note 18 – Loss Per Common Share

The factors used in the loss per common share computation follow:

 
   2013   2012  
 
   (Dollars in thousands,
except share and per share)
  

Basic

              

Net income (loss)

   $ (301 ) $ 588  

Less: Preferred stock dividends and accretion

     (779 )   (1,281 )
           
​ ​ ​ ​ ​ ​ ​ ​

Loss allocable to common stockholders

   $ (1,080 ) $ (693 )
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Weighted average common shares outstanding

     8,511,610     1,807,911  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Loss per common share – basic

   $ (0.13 ) $ (0.38 )
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Diluted

              

Net income (loss)

   $ (301 ) $ 588  

Less: Preferred stock dividends and accretion

     (779 )   (1,281 )
           
​ ​ ​ ​ ​ ​ ​ ​

Loss allocable to common stockholders

   $ (1,080 ) $ (693 )
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Weighted average common shares outstanding for basic earnings per common share

     8,511,610     1,807,911  

Add: dilutive effects of assumed exercises of stock options

     -     -  
           
​ ​ ​ ​ ​ ​ ​ ​

Average shares and dilutive potential common shares

     8,511,610     1,807,911  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Loss per common share – diluted

   $ (0.13 ) $ (0.38 )
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Stock options for 93,750 shares and 175,178 shares of common stock were not considered in computing diluted earnings per common share for 2013 and 2012, respectively, because they were anti-dilutive.