Summary Of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2020


	Three months ended				Six months ended
	June 30,				June 30,
	2020		2019		2020		2019
	(unaudited)				(unaudited)
Basic
Net income	$	10,068	$	2,280	$	12,074	$	3,961
Accretion of discount and value of warrants exercised related to Series B preferred stock (1)		-		157		-		183
Earnings allocated to participating securities (Series C preferred stock)		(1,218)		-		(1,866)		-
Net income allocated to common stockholders	$	8,850	$	2,437	$	10,208	$	4,144

Weighted average common shares outstanding including unvested share-based payment awards		5,777,816		4,412,726		5,575,856		4,384,395
Less: Unvested share-based payment awards-2019 Plan		(38,719)		-		(39,335)		-
Average shares		5,739,097		4,412,726		5,536,521		4,384,395
Basic earnings per common share	$	1.54	$	0.55	$	1.84	$	0.95

Diluted
Net earnings allocated to common stockholders	$	8,850	$	2,437	$	10,208	$	4,144
Add back: Preferred Dividends on Series B preferred stock and accretion of discount		-		-		-		-
Net earnings allocated to common stockholders	$	8,850	$	2,437	$	10,208	$	4,144

Weighted average common shares outstanding for basic earnings per common share		5,739,097		4,412,726		5,536,521		4,384,395
Add: Dilutive effects of assumed exercises of stock options		24,762		35,077		25,591		37,075
Add: Dilutive effects of assumed exercises of stock warrants		-		4,834		-		13,894
Add: Dilutive effects of unvested share-based payment awards-2019 Plan		38,719		-		39,335
Average shares and dilutive potential common shares		5,802,578		4,452,637		5,601,447		4,435,364
Diluted earnings per common share	$	1.53	$	0.55	$	1.82	$	0.93

⁽¹⁾

All outstanding warrants expired on July 15, 2019.