| Basic and Diluted Earnings Per Common Share |
The following
table presents computations for basic and diluted earnings (loss)
available to common shareholders per common share for the periods
indicated:
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For the year ended
December 31, |
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2013 |
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2012 |
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2011 |
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Common
Stock |
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Class B
Common
Stock |
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Total |
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Common
Stock |
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Class B
Common
Stock |
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Total |
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Common
Stock |
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Class B
Common
Stock |
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Total |
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($ in thousands, except
per share data) |
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Basic:
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Net (loss)
income
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$ |
75 |
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$ |
4 |
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$ |
79 |
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$ |
5,442 |
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$ |
554 |
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$ |
5,996 |
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$ |
(2,461 |
) |
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$ |
(267 |
) |
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$ |
(2,728 |
) |
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Less: preferred stock
dividends
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2,070 |
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115 |
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2,185 |
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1,234 |
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125 |
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1,359 |
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482 |
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52 |
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534 |
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Net (loss) income available
to common shareholders
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$ |
(1,995 |
) |
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$ |
(111 |
) |
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$ |
(2,106 |
) |
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$ |
4,208 |
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$ |
429 |
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$ |
4,637 |
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$ |
(2,943 |
) |
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$ |
(319 |
) |
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$ |
(3,262 |
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Weighted average common
shares outstanding
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14,481,060 |
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805,774 |
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15,286,834 |
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10,622,577 |
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1,080,754 |
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11,703,331 |
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9,605,006 |
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1,041,505 |
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10,646,511 |
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Basic (loss) earnings per
common share
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$ |
(0.14 |
) |
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$ |
(0.14 |
) |
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$ |
(0.14 |
) |
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$ |
0.40 |
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$ |
0.40 |
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$ |
0.40 |
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$ |
(0.31 |
) |
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$ |
(0.31 |
) |
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$ |
(0.31 |
) |
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Diluted:
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Net (loss) income available
to common shareholders
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$ |
(1,995 |
) |
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$ |
(111 |
) |
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$ |
(2,106 |
) |
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$ |
4,208 |
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$ |
429 |
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$ |
4,637 |
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$ |
(2,943 |
) |
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$ |
(319 |
) |
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$ |
(3,262 |
) |
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Weighted average common
shares outstanding for basic (loss) earnings per common
share
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14,481,060 |
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805,774 |
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15,286,834 |
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10,622,577 |
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1,080,754 |
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11,703,331 |
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9,605,006 |
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1,041,505 |
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10,646,511 |
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Add: Dilutive effects of
stock awards
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— |
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— |
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— |
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9,176 |
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— |
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9,176 |
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— |
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— |
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— |
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Average shares and dilutive
common shares
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14,481,060 |
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805,774 |
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15,286,834 |
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10,631,753 |
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1,080,754 |
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11,712,507 |
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9,605,006 |
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1,041,505 |
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10,646,511 |
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Diluted (loss) earnings per
common share
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$ |
(0.14 |
) |
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$ |
(0.14 |
) |
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$ |
(0.14 |
) |
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$ |
0.40 |
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$ |
0.40 |
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$ |
0.40 |
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$ |
(0.31 |
) |
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$ |
(0.31 |
) |
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$ |
(0.31 |
) |
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