Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Common Share [Abstract]


	December 31, 2020		December 31, 2019
Basic
Net income	$	29,608	$	9,601
Accretion of discount and value of warrants exercised related to Series B preferred stock (1)		-		219
Earnings allocated to participating securities (Series C preferred stock) (2)		(2,280)		(430)
Net income allocated to common stockholders	$	27,328	$	9,390

Weighted average common shares outstanding including unvested share-based payment awards		6,072,829		4,582,997
Less: Unvested share-based payment awards-2019 Plan		(43,732)		(1,532)
Average shares		6,029,097		4,581,465
Basic earnings per common share	$	4.53	$	2.05

Diluted
Net earnings allocated to common stockholders	$	27,328	$	9,390
Add back: Preferred Dividends on Series B stock and accretion of discount		-		-
Net earnings allocated to common stockholders	$	27,328	$	9,390

Weighted average common shares outstanding for basic earnings per common share		6,029,097		4,581,465
Add: Dilutive effects of assumed exercises of stock options		34,158		38,620
Add: Dilutive effects of assumed exercises of stock warrants		-		6,947
Add: Dilutive effects of unvested share-based payment awards-2019 Plan		43,732		1,532
Average shares and dilutive potential common shares		6,106,987		4,628,564
Diluted earnings per common share	$	4.47	$	2.03

⁽¹⁾

All outstanding warrants expired on July 15, 2019.

⁽²⁾

All 12,607 outstanding shares of Series C preferred stock were converted into a total of 1,260,700 shares of the Company’s Non-Voting Common Stock effective as of the close of business on May 28, 2020.

Summary Of Anti-Dilutive Options Or Warrants


	2020	2019
Stock options	331	463