Earnings Per Common Share

6 Months Ended

Sep. 30, 2021

PER COMMON SHARE

The following table reconciles the income (loss) available to common shareholders (numerator) and the weighted average common stock outstanding (denominator) for both basic and diluted income (loss) per share for the following periods:


	Three Months Ended September 30,				Six Months Ended September 30,
$ in thousands except per share data	2021		2020		2021		2020
Net income (loss)	$	1,084	$	(809)	$	(1,672)	$	(1,621)
Less: Participated securities share of undistributed earnings	399		—		—		—
Net income (loss) available to common shareholders	$	685	$	(809)	$	(1,672)	$	(1,621)

Weighted average common shares outstanding - basic	3,498,861		3,775,728		3,440,827		3,737,905
Effect of dilutive shares	2,014,952		—		—		—
Weighted average common shares outstanding – diluted	5,513,813		3,775,728		3,440,827		3,737,905

Basic earnings (loss) per common share	$	0.20	$	(0.21)	$	(0.49)	$	(0.43)
Diluted earnings (loss) per common share	0.12		(0.21)		(0.49)		(0.43)

For the three and six months ended September 30, 2021 and 2020, all restricted shares and outstanding stock options were anti-dilutive.